Date: 2018-05-04
JPMorgan’s latest hire proves the bank is serious about artificial intelligence
JPMorgan Chase is doubling down on artificial intelligence.
The bank said in a note to employees on Thursday that it’s hired Manuela Veloso as the company’s first head of artificial intelligence research.
Veloso comes to JPMorgan Chase from Carnegie Mellon University, where she’s served as head of the machine learning department. Her employment was first reported by the Wall Street Journal.
The move comes as big players in the finance industry race to roll out AI, which could eventually be used for services ranging from fraud detection to loan approval, while making internal operations more efficient.
“There’s essentially been a mandate [from the top of] many of these institutions that AI and process management is something that should be heavily invested in,” said Jason Mars, a computer science professor at the University of Michigan and the CEO of Clinc, a company that’s developing AI solutions for financial firms like USAA.