JPMorgan's AI-Powered Software Radically Cuts Manual Work for Cash Flow Management
• JPMorgan launched AI-powered cash flow management software called Cash Flow Intelligence that has reduced manual work for corporate customers by up to 90%
• The software has seen tremendous interest from over 2,500 JPMorgan clients; the bank is considering charging a monthly fee for the service
• JPMorgan has over 150 data scientists and engineers refining its AI solutions, though unclear how many work on this specific tool
• AI tools like this are already generating revenue for JPMorgan - it set targets of $1B (increased to $1.5B) in AI-driven business value by 2023
• JPMorgan's CEO Jamie Dimon is very bullish on AI's potential, saying it could enable 3.5-day work weeks and end cancer, though AI leaders have warned of existential risks