---
title: AI-enabled consumer banking
description: "As reported in CB Insights, JPMorgan Chase is rebuilding its consumer business model to create a \"digital everything\" strategy. With $2.6 trillion in total assets, it's the largest bank in the US."
---

[World Summit AI | Blog ](https://blog.worldsummit.ai)

# [AI-enabled consumer banking](https://blog.worldsummit.ai/ai-enabled-consumer-banking)

 Written by [World Summit AI](https://blog.worldsummit.ai/author/world-summit-ai) | Sep 3, 2018 9:04:34 AM

As reported in CB Insights, **JPMorgan Chase** is rebuilding its consumer business model to create a** "digital everything" strategy**. With $2.6 trillion in total assets, it's **the largest bank in the US**.

Its retail bank, Chase, spans 61 million American households. Led by Chairman and CEO Jamie Dimon, the bank is undergoing a transformation, moving away from offline legacy systems and into the digital age. Over the past two years, **the bank has spent nearly $20B to scale its technology and prepare itself for the next generation of banking**.

From July 1st, **Professor Manuela Veloso**, **World renowned AI expert **joined the bank to build on existing capabilities as its Head of Artificial Intelligence.

In this newly created position, Veloso is establishing an** AI research capability at J.P. Morgan** - where the company has already started to apply Machine Learning technology across its businesses.

Professor Veloso will lead efforts to **identify additional opportunities for AI** and **design solutions that could transform financial services**.

We're super excited to hear from Manuela and her plans to disrupt this industry at [World Summit AI! ](https://worldsummit.ai/)<https://worldsummit.ai/>

[View full post](https://blog.worldsummit.ai/ai-enabled-consumer-banking)

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