Bank of England Prioritizes AI, DLT, and Quantum Computing in Tech Strategy
The Bank of England (BoE) has announced plans to make artificial intelligence (AI), distributed ledger technology (DLT), and quantum computing the cornerstone of its technology strategy. In a newly released report, the central bank outlined how it intends to leverage these “cross-cutting technologies” to achieve transformative outcomes across the UK’s financial system and wider economy. The strategy emphasizes not only the Bank’s own adoption of these tools but also its broader role in encouraging responsible innovation throughout the financial services sector.
JPMorgan’s $2 Billion AI Investment Yields Equal Savings, Says CEO Jamie Dimon
JPMorgan Chase is spending $2 billion a year developing artificial intelligence—and reaping about the same amount in savings, according to CEO Jamie Dimon.
Robinhood CEO: Tokenisation Will Transform Global Finance Within a Decade
Robinhood CEO Vlad Tenev has predicted that tokenisation will reshape the financial system worldwide, describing the trend as an “unstoppable freight train.” Speaking at a conference in Singapore, Tenev said most countries are likely to adopt tokenisation frameworks within five years, with full adoption across all financial instruments potentially taking a decade.
Citi aims for productivity boost with agentic AI
Citi today announced the launch of an enhanced version of its proprietary AI platform, Citi Stylus Workspaces, now powered by Agentic AI.
AI Investments Deliver 136% ROI as Finance Teams Turn to Automation for Growth
Enterprises investing in AI within the financial technology sector are realizing a 136% return on investment, saving $1.36 million for every $1 million invested over three years, according to a global study by Financial Times Longitude for Basware. Despite ongoing economic uncertainty and global trade disruptions, AI adoption is proving to be a direct driver of financial performance. With the global AI market projected to hit $4.8 trillion by 2033, interest in AI-driven efficiencies continues to surge.
AI Revolution in Banking: Most Lag Behind Early Adopters
A recent Boston Consulting Group (BCG) report reveals that while nearly all banks have invested in AI technology, only 25% have fully integrated it into their daily operations, with most still stuck in pilot phases or proof-of-concept stages.
Citi Predicts AI Revolution in Finance: Job Automation and Profit Boost
AI will transform finance, boosting profits and automating up to half of jobs, says Citi. The report finds 54% of banking jobs highly automatable and 12% augmentable by AI. AI is in a proof-of-concept stage but is rapidly advancing.
Generative AI Revolutionizes Banking: Driving Cloud Transition and Reshaping Industry Norms
According to a survey conducted by NTT Data, Generative AI is playing a crucial role in driving the transition of banking applications to the cloud, as reported by nearly two-thirds of industry professionals.
