TECH - Is This The Future Of Banking? JPMorgan's AI Cash Flow Tool Slashes Human Work By Nearly 90% | Benzinga
Global banking giant JPMorgan Chase & Co. (NYSE:JPM) has revealed that its AI Cash Flow Intelligence tool has significantly decreased manual human labor by nearly 90% for some of its corporate clients.
What Happened: The AI tool, which was introduced last year, has been employed by approximately 2,500 clients. The tool has been so successful that the bank is contemplating charging for its use in the future, reported Bloomberg.
Tony Wimmer, the head of data and analytics at JPMorgan’s wholesale payments unit, stated, “Cashflow forecasting is very complex and you need a lot of judgment.”
Wimmer, who manages a team of about 300 data scientists and engineers, ...