JPMorgan's CIO Has Championed A Data Platform That Turbocharges AI

JPMorgan Chase sees artificial intelligence (AI) as critical to its future success. And the mega-bank has a big advantage over many of its smaller rivals: the massive amount of data it gathers from sources such as the 50% of U.S. households with which it has some form of relationship and the $6 trillion worth of payment flows it handles daily. But until recently, identifying and pulling in relevant data to train AI models was taking up around 60% of the time of the bank's growing army of data scientists. That was an inefficient use of an expensive and relatively scarce resource. Now a new data platform the bank has developed, called OmniAI, is helping it to get relevant data into its models much faster.