JPMorgan Chase and Capital One lead banking sector in AI adoption

JPMorgan Chase and Capital One are leading the banking sector in artificial intelligence (AI) adoption, integrating the technology at twice the rate of their competitors. This trend is highlighted in a recent index by Evident AI, which evaluates major banks on their AI efforts. The top banks, including JPMorgan and Capital One, are increasing their investments in AI, hiring aggressively, and pursuing various innovations. JPMorgan has been investing in AI since 2018 and expects nearly $2 billion in returns this year, particularly in fraud prevention. As AI adoption grows, more banks are likely to report financial benefits from their investments. Experts suggest that quantum computing may be the next focus for banks as they seek to enhance their capabilities and protect against cyber threats.