JP Morgan appoints top AI expert, says ready for adoption

Top American multinational investment bank and financial services company, J.P. Morgan Chase, announced Friday that Manuela Veloso will be joining the bank’s corporate and investment bank team as head of its Artificial intelligence (AI) Research.

The bank said the move is in line with its aim of exploring new opportunities through machine learning technology so as improve its efficiency and customer service with more effectiveness, depth and satisfaction.

This JP Morgan decision appears to reaffirm a growing acknowledgement of the advancements of artificial intelligence and its increasing potentials in the finance industry, with the bank stating that it is now at a pivotal point for its adoption due to increased availability of large volumes of data, high-powered computing and advances in algorithms which are adding up to make AI cheaper and faster.

The bank also stated that it has assembled talented teams to drive innovation in artificial intelligence, blockchain technology, big data,
machine learning and robots.

Veloso is currently the head of the Machine Learning Department at Carnegie Mellon University and was named the Carnegie Mellon University Professor in 2014, the highest academic award of the University, Einstein Chair Professor by the Chinese Academy of Sciences, and is also a fellow of the Association for the Advancement of Artificial Intelligence (AAAI), the Association for Computing Machinery (ACM), and the American Association for the Advancement of Science (AAS).

By Joel Eneogwe