If you get into a car accident in China, you can simply pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically decide how serious the ding was and process the claim accordingly with an insurer. It shows how the company--which already operates a hugely successful smartphone payments business in China--aims to upend many areas of personal finance using machine learning and AI. The e-commerce giant Alibaba created Ant in 2014 to operate Alipay, a ubiquitous mobile payments service in China. If you have visited the country in recent years, then you have probably seen people paying for meals, taxi rides, and a whole lot more by scanning a code with the Alipay app.

If you get into a car accident in China in the near future, you'll be able to pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically decide how serious the ding was and process the claim accordingly with an insurer. It shows how the company--which already operates a hugely successful smartphone payments business in China--aims to upend many areas of personal finance using machine learning and AI. The e-commerce giant Alibaba created Ant in 2014 to operate Alipay, a ubiquitous mobile payments service in China. If you have visited the country in recent years, then you have probably seen people paying for meals, taxi rides, and a whole lot more by scanning a code with the Alipay app.

If you get into a car accident in China in the near future, you'll be able to pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically decide how serious the ding was and process the claim accordingly with an insurer. It shows how the company--which already operates a hugely successful smartphone payments business in China--aims to upend many areas of personal finance using machine learning and AI. The e-commerce giant Alibaba created Ant in 2014 to operate Alipay, a ubiquitous mobile payments service in China. If you have visited the country in recent years, then you have probably seen people paying for meals, taxi rides, and a whole lot more by scanning a code with the Alipay app.

If you get into a car accident in China, you can simply pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically decide how serious the ding was and process the claim accordingly with an insurer. It shows how the company--which already operates a hugely successful smartphone payments business in China--aims to upend many areas of personal finance using machine learning and AI. The e-commerce giant Alibaba created Ant in 2014 to operate Alipay, a ubiquitous mobile payments service in China. If you have visited the country in recent years, then you have probably seen people paying for meals, taxi rides, and a whole lot more by scanning a code with the Alipay app.

If you get into a car accident in China, you can simply pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically decide how serious the ding was and process the claim accordingly with an insurer. It shows how the company--which already operates a hugely successful smartphone payments business in China--aims to upend many areas of personal finance using machine learning and AI. The e-commerce giant Alibaba created Ant in 2014 to operate Alipay, a ubiquitous mobile payments service in China. If you have visited the country in recent years, then you have probably seen people paying for meals, taxi rides, and a whole lot more by scanning a code with the Alipay app.

NEW YORK - Wells Fargo & Co has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings. Wells Fargo's AI team will work on creating technology that can help the bank provide more personalized customer service through its bankers and online, the bank said on Friday. It will be led by Steve Ellis, head of Wells Fargo's innovation group. Well Fargo's AI focus comes as banks and other large financial institutions increase their investment in the emerging technology which seeks to train computers to perform tasks that would normally require human intelligence. Projects range from systems that can spot payments fraud or misconduct by employees, to technology that can make more personal recommendations on financial products to clients.

NEW YORK Wells Fargo & Co has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings. Wells Fargo's AI team will work on creating technology that can help the bank provide more personalized customer service through its bankers and online, the bank said on Friday. It will be led by Steve Ellis, head of Wells Fargo's innovation group. Well Fargo's AI focus comes as banks and other large financial institutions increase their investment in the emerging technology which seeks to train computers to perform tasks that would normally require human intelligence. Projects range from systems that can spot payments fraud or misconduct by employees, to technology that can make more personal recommendations on financial products to clients.

Wells Fargo has created a team to develop artificial intelligence-based technology and appointed a lead for its newly combined payments businesses, as part of an ongoing push to strengthen its digital offerings. Wells Fargo's AI team will work on creating technology that can help the bank provide more personalized customer service through its bankers and online, the bank said on Friday. It will be led by Steve Ellis, head of Wells Fargo's innovation group. Well Fargo's AI focus comes as banks and other large financial institutions increase their investment in the emerging technology which seeks to train computers to perform tasks that would normally require human intelligence. Projects range from systems that can spot payments fraud or misconduct by employees, to technology that can make more personal recommendations on financial products to clients.