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.
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.