Ian Wilson, former Head of AI at HSBC, presently runs an independent enterprise AI strategy advisory firm. Lee Smallwood is COO of Markets and Securities Services (North America) at Citi. Dr. Nishant Chandra is Senior Director of Data Products at VISA, and previously served as Data Science Leader at AIG. Thank you - your brief is being sent to you by email.
There is a certain level of stigma that exists around using machine learning and location data in business applications, understandably due to risks inherent in exploitation of individual privacy. But if we look under the hood of society's daily web of interactions, we see that the location information economy--from GPS to radio signal based-triangulation to geo-tagged images and beyond--is now almost ubiquitous, from the moment we track our morning commute to the end-of-day search for healthy and convenient take-out for dinner.
Stockbrokerage might be viewed by investors as a traditionally human-based service allowing them to buy and sell equities. When looking at the shift in how stock brokerage is different today compared to the early 2000s, the largest change seems to be in software-based automation. Put simply, a lot of what was being done by humans (such as executing trades, giving advice to investors, discretionary trading) can now be done through software.
We can infer numerous possible use-cases for each of these AI initiatives, in addition to the ways in which they were developed and implemented. The clearest use case is for their virtual assistant, which is likely a mature version of the pilot chatbot project they worked on with AI firm Kasisto in 2018 and earlier this year. Kasisto claims to have helped JP Morgan treasury services offer customers a customer service chatbot. The chatbot was purportedly made for the purpose of helping clients navigate JP Morgan's expansive website. Kasisto's platform, KAI, could be used to develop chatbots which can be deployed across multiple digital channels, such as employee dashboards and smartphone apps.