Bank technology

Financial industry workers don't need to be concerned about losing their jobs to AI — they need to be concerned over which of the many opportunities they will want to seek out when the time comes.

The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.

Third-party cookies will essentially disappear as a tracking tool on the internet by the end of 2024. Marketing to customers using first-party data may be a better tactic regardless.

Many assumed the advent of cryptocurrencies heralded a revolution in finance. The truth may be that crypto's overall impact on the financial services industry is more evolutionary than revolutionary.

In his annual letter to shareholders, JPMorgan Chase CEO Jamie Dimon wrote that the bank has identified more than 400 use cases for artificial intelligence across marketing, fraud and risk. It has also amassed thousands of AI experts and data scientists and begun exploring deploying generative AI.

Synovus Financial demonstrated at an industry conference how it is using Microsoft's Copilot to help its staff address customers' concerns.

Specialized large language models should be harnessed to help financial institutions identify and halt fraudulent activity. The best model would involve regulator-approved pooling of anonymized customer data.