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JP Morgan hired Google’s senior executive to boost its artificial intelligence

JP Morgan, artificial intelligence, Google, machine learning, blockchain, banking, Apoorv Saxena
In addition to Silicon startups and tech giants, banks are seeking AI experts to build an automated future in finance

JP Morgan hired Apoorv Saxena, Google’s head of product management for cloud-based artificial intelligence, according to a memo exclusively obtained by CNBC. Saxena will be on board effective August 31 as head of artificial intelligence and machine-learning services.  In addition he will also spearhead the asset and wealth management with artificial intelligence technology

Previously, in May, the bank hired Manuela Veloso, head of the machine-learning department at Carnegie Mellon University. According to the memo sent at the time, this was in an effort to spot opportunities that “could potentially transform financial services.” Nearly one-third of the bank’s top officials are experts from other industries.

Fintech firms and global tech giants are luring clients using top-notch technologies such as artificial intelligence. Therefore, banks are constantly looking to hire managers outside the finance sector, mostly in technologies including machine learning and blockchain.


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