TECH - JPMorgan Aims for $1.5B in AI Value by 2023 Boosting Efficiency in Corporate Finance | Benzinga
JPMorgan Chase & Co (NYSE:JPM) has significantly reduced manual labor for its corporate customers by up to 90% through its artificial intelligence-powered cashflow management tool, Cash Flow Intelligence.
Tony Wimmer, head of data and analytics at JPMorgan’s wholesale payments unit, reported the tool’s success since its launch a year ago, with around 2,500 clients currently utilizing it at no charge.
The bank is now contemplating introducing fees for this highly sought-after service, Bloomberg reports.
This initiative is part of JPMorgan’s broader strategy to enhance productivity and cut costs by