JPMorgan Hires Google Exec for AI Innovation PYMNTS.com

JPMorgan Chase has hired a senior executive from Google as its new head of artificial intelligence (AI) and machine learning services. According to a memo obtained exclusively by CNBC, Apoorv Saxena, Google's head of product management for cloud-based artificial intelligence, will be joining JPMorgan on Aug. 31. In addition to his role as head of AI, Saxena will also serve as head of asset and wealth management artificial intelligence technology. He will be based in Palo Alto, California. As companies in various markets are racing to create the next generation of AI-powered services, a small group of proven AI experts are finding themselves in high demand, with some being offered salaries in the millions to join firms.