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Asian tech talent helps JPMorgan compete: CIO

AI development and blockchain feature prominently in $12bn technology budget

JPMorgan Chase is implementing artificial intelligence throughout the company, from fraud detection to customizing its online portal for analyst reports.   © Reuters

NEW YORK -- Faced with growing competition from tech companies like Apple and PayPal Holdings, JPMorgan Chase is spending an annual $12 billion on technology to gain an edge, and Asia is at the core of its innovation strategy.

In an interview with Nikkei, Global Chief Information Officer Lori Beer emphasized the region's role in the bank's tech plans.

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