ARNON DROR | JP MORGAN CHASE TREASURY AI http://www.arnon-dror.com/blog/arnon-dror-jp-morgan-chase-treasury-ai/

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A R N O N D R O R ( H T T P : // W W W . A R N O N -
D R O R . C O M / )
s o t & bu s
July 13, 2018
ARNON DROR | JP MORGAN CHASE TREASURY AI
J.P. Morgan Chase has begun to roll out Arti cial Intelligence in an attempt to further automation within its treasury department. Arnon Dror
(https://twitter.com/arnondror1) chimes in as the technology will purportedly help investors cut through all the data and present its ndings to a
human counterpart trader who will then analyze and make nal investment decisions. Based on interactions with clients and traders, the AI is said to
be able to learn from what you ask from it. The yet to be named AI will then formulate suggestions based on the available data, recent activities, and
historical preferences. Image Source: Youtubemachinelearning (http://www.arnon-
dror.com/wp-content/uploads/2018/07/Arnon-Dror-JP-Morgan.jpg)
Through its treasury services, J.P. Morgan Chase helps large global companies to move
money around the world through various investments involving foreign exchange and
escrow solutions while offering liquidity management. For a sense of scale, Arnon Dror
professionally (http://www.arnondror.com/) reminds that J.P. Morgan Chase’s treasury
department reportedly made $7.6 Billion last year. Revenue is made on various services fees,
foreign exchange, and lending.
The big leap taking place, according to Arnon Dror (https://www.youtube.com/watch?
v=uMaVpsP-sV4), is that non-human intelligence is sharing in the analysis component in the
decision making process. It’s no longer about presenting boatloads of data to human analysts, but there will be summarization, elimination, focusing,
and even bias involved on the computer’s side.
To lead this venture, J.P. Morgan Chase named Manuela Veloso as head of arti cial intelligence research. Veloso is also head of the machine learning
department at Carnegie Mellon University. Veloso describes her research goals as the “effective construction of autonomous agents where cognition,
perception, and action are combined to address planning, execution, and learning tasks.”
She also wrote an article for The Verge entitled, “Humanity and AI Will be Inseparable,” in which she delves into symbiotic autonomy and a peaceful
co-existence between human and autonomous AI.
Though the AI developed by Veloso has been online for months, the pilot program was launched in late June as programmers needed to give it an
opportunity to interact with human traders, learn, and ‘mature’.
As a backup, J.P. Moran Chase is also adding human employees to its treasury department’s workforce, initially.
Arnon Dror (https://www.google.com/search?
q=Arnon+Dror&rlz=1C1GNAM_enUS766US768&tbm=isch&tbo=u&source=univ&sa=X&ved=0ahUKEwiWwPu6vpzcAhUQXK0KHeE4AowQsAQIPQ)
reminds that other nancial institutions including Bank of America and Wells Fargo, have already rolled out virtual assistants to millions of retail
customers, but this will be the rst time the technology will be offered to corporate clients through a company of this scale.
If successful, this may mark the beginning of the nancial industry’s plunge into AI, notes Arnon Dror.
According to the JP Morgan Chase website, “Thus far, AI has made its way into Financial Services with automated trading and investment discovery,
trading strategies, robo-advisors, voice-based commerce, customer behavior analysis, and chatbots for customer services, identity veri cation and
fraud detection.”
The website also shows that 22.2% of the company’s AI initiatives have already been launched while an additional 3.7% is expected to launch within
the year.
Amongst its projects, the company is already in works to develop the one that everyone is really waiting for, including Arnon Dror (http://www.arnon-
dror.com/): stock market AI trading assistance.
Author: admin (http://www.arnon-dror.com/author/admin/)
Filed Under: Blog (http://www.arnon-dror.com/category/blog/)
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