According to McKinsey’s latest report, while AI savings could be up to 20%, taking account of the cost of the technology, banking industry profits could fall 9% as customers move money based on AI agent recommendations.
According to the latest Evident AI Index, JPMorganChase is the leading bank in AI.
Google has claimed a breakthrough in quantum computing after developing an algorithm that performed a task beyond the capabilities of conventional computers.
Researchers at the University of California, San Francisco (UCSF) and Allen Institute have designed an AI model that has created one of the most detailed maps of the mouse brain to date, featuring 1,300 regions/subregions.
OpenAI has hired more than 100 former investment bankers to help train its AI to build financial models.
OpenAI is teaming up with Broadcom to make custom chips and systems for use in both OpenAI’s infrastructure and its partners’ data centers.
A study from AI vendor DeepL showed that 65% of the surveyed UK finance professionals admitted to using unsanctioned AI tools for customer interactions.
Lloyds Banking Group has named Bristol its AI capital
JPMorganChase are saying they spend $2bn a year on AI and it saves the same amount.
Lloyds Banking Group is putting its chief executive and all top bosses through a six-month Cambridge AI training course, as the bank puts its full weight behind the technology.
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