Investment

Alex Karp told CNBC the frontier model providers are charging too much for tokens and taking customers' intellectual property. Here are the risks to bankers' strategies.

The card network's AI Financial Assistant uses information from 257 billion yearly transactions to inform "conversational" advice embedded in banking apps.

The New Jersey bank has attributed a 60% reduction in document-related task time over the past three months to an AI agent from fintech provider nCino.

The biggest core providers have each tied their security to a frontier AI developer. The guidance that would govern any of it excludes agentic AI.

In pitting AI agents against historic 60-40 portfolio results, JPMorgan found AI won every time. But researchers could not rule out the possibility that the systems could have essentially cheated.

The HR software is used by scores of U.S. banks, including many of the largest ones. The case also raises broader questions about job candidate screening and who is liable when an AI tool causes disparate impact.

Caitlin Long, CEO of Custodia Bank, sits down with tech reporter Melinda Lucy to talk about the bank's launch of its on-chain Hazel Network in partnership with Vantage Bank, the stablecoins versus tokenized deposits debate and how the Hazel Network brings the two technologies together under a familiar legal framework for banks.

In the U.S., bankers are used to prescriptive rulemaking, and without it they seem uncertain about how to move forward with AI. Europe tried writing prescriptive AI rules, and they were a disaster. Now nobody knows how to move forward.

Bipartisan pushback is targeting data centers with calls to eliminate tax breaks and ensure their energy consumption costs do not get passed on to residents.

Anthropic appoints Former Federal Reserve Chair Ben Bernanke to its long-term benefit trust, JPMorganChase signs a multiyear agreement to be the official jersey patch and banking partner of the Dallas Mavericks, Brazil-based Nubank receives full regulatory approval to open Nu Mexico, and more in this week's banking news roundup.