JPMorgan launched a free Cash Flow Intelligence AI tool last year for its corporate customers, and now the bank says the tool has helped some of them cut human-oriented manual work by close to 90%, according to a Bloomberg report.
About 2,500 unnamed clients use the AI tool, which makes it successful enough that JPMorgan may start charging for it one day, according to that same report.
“Cashflow forecasting is very complex and you need a lot of judgment,” Tony Wimmer, the head of data and analytics at JPMorgan’s wholesale payments unit, told Bloomberg.
Wimmer, who leads a team of about 300 data scientists, data engineers, and other employees, is still
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