JPMorgan is leading the way in the adoption of AI in banking (01/2024)
JPMorgan is leading the way in the adoption of AI in banking. A new index that tracks banks implementation of AI puts banking behemoth JPMorgan at the top of the list, according to TechCrunch.
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UK-based startup Evident created the index, which ranks the 23 largest banks in North America and Europe by their ability to develop and deploy AI-powered solutions.
The index scores the bank across four factors: AI-focused talent, AI innovation, leadership in AI strategy and implementation, and transparency of responsible AI practices.
The winner Based on the inaugural rankings, North American banks seem to have a clear lead over European banks - 7 of the banks in the top 10 were North American.
JPMorgan, which is known for its heavy spending on AI technology, tops the list with a score of 65%.
The AI wars in banking Although currently the technology still has limitations and potential risks, the AI Index by Evident provides an unbiased assessment of which banks are prioritizing AI and their investment in the technology for the future. The AI wars in banking are only starting and JPMorgan is leading the pack.
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