Latest news with #CoachAI
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First Post
06-05-2025
- Business
- First Post
AI as sales manager: JP Morgan says artificial intelligence added wealthy clients despite April market turmoil
April's market rout, which saw record intraday swings and historic single-day trading volumes, pushed investors into panic mode. But JPMorgan says its AI systems, including a tool known as 'Coach AI', turned what could have been a chaotic period into an opportunity read more JPMorgan Chase is betting big on artificial intelligence, and it's already paying off. The banking giant's asset and wealth management division says its AI-powered tools have helped advisers handle a deluge of client requests, boost productivity, and even drive a 20 per cent jump in gross sales between 2023 and 2024. The shift comes as the industry leans further into AI to navigate heightened market volatility and scale services for high-net-worth clients. STORY CONTINUES BELOW THIS AD 'In the last few weeks, there have been several fluctuations in the market which are not in normal bite sizes,' said Mary Erdoes, CEO of JPMorgan Asset & Wealth Management, referring to the recent chaos triggered by US President Donald Trump's new tariff announcements. The powerful AI tools helped advisers quickly handle client requests by pulling data on trading patterns and anticipating queries, she said. More from Tech A $40-bn opportunity for India as Apple dumps China for iPhone production April's market rout, which saw record intraday swings and historic single-day trading volumes, pushed investors into panic mode. But JPMorgan says its AI systems, including a tool known as 'Coach AI', turned what could have been a chaotic period into an opportunity. 'When you have a tool that pre-populates all the data and the movement in real time, while also remembering clients' old investment preferences and helps in tailoring a plan for them quickly, it also allows advisers to do much more,' Erdoes said. Coach AI, which supports JPMorgan's private client advisers, streamlines access to relevant research, data, and historical client behaviour. 'Our advisers are finding the right information up to 95 per cent faster,' said Mike Urciuoli, chief information officer of the asset and wealth management business. 'That means less time spent searching, and more time engaging in meaningful conversations with clients.' The AI boost is reshaping client relationships and expanding capacity. The firm expects the new tools will enable advisers to grow their client books by 50 per cent over the next three to five years. The tech handles anticipatory and research-heavy work, allowing advisers to focus on strategic guidance. 'AI has also been handling a lot of anticipatory work, allowing advisers to be prepared for what could have otherwise been a very stressful moment with market movements,' Erdoes added. STORY CONTINUES BELOW THIS AD JPMorgan's aggressive tech push is backed by serious capital. The bank set aside $17 billion for technology investments in 2024, and it's already identified 450 potential AI use cases. CEO Jamie Dimon has said that number could double to 1,000 by next year. The firm joins a broader wave of AI adoption sweeping across Wall Street. Goldman Sachs is piloting a generative AI assistant for its bankers, traders, and asset managers, while Morgan Stanley has built a chatbot powered by OpenAI for its financial advisers. With inputs from agencies
Yahoo
05-05-2025
- Business
- Yahoo
JPMorgan says AI helped boost sales, add clients in market turmoil
By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase's artificial intelligence tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April's market rout, the bank's CEO of asset and wealth management said. The largest U.S. lender, along with its peers has been ramping up its use of AI. Goldman Sachs is rolling out a generative AI assistant to its bankers, traders and asset managers, while Morgan Stanley developed a chatbot for its financial advisers with OpenAI. JPMorgan's AI tools have supercharged the speed at which its bankers could provide research and investment advice to wealthy clients last month at a time when the U.S. tariff announcements erased trillions of dollars from the stock market. "In the last few weeks, there have been several fluctuations in the market which are not in normal bite sizes, making it very complicated to think about all your clients and all the things required to do," Mary Erdoes said. The "powerful" AI tools helped advisors to quickly handle client requests by pulling data on their trading patterns and anticipating queries, she said. In the days surrounding U.S. President Donald Trump's tariff announcement last month, U.S. stock markets set a new record for single-day trading volume, and posted some of the sharpest intraday swings of the past 50 years. The volatility prompted individual investors to call their bankers seeking advice, Erdoes told Reuters. "When you have a tool that pre-populates all the data and the movement in real time, while also remembering clients' old investment preferences and helps in tailoring a plan for them quickly, it also allows advisors to do much more," she added. JPMorgan's so-called Coach AI tool used by private client advisers is quicker at locating content and research to drive conversations with clients. "Our advisors are finding the right information up to 95% faster--which means they spend less time searching and more time engaging in meaningful conversations with clients," said Mike Urciuoli, chief information officer at JPMorgan asset and wealth management. "It's a great example of how of AI isn't replacing human touch, it's enhancing it," Urciuoli added. ADDING CLIENTS The app will help advisers expand their client rosters by 50% in the next three-to-five years by enabling them to take on more clients, with AI handling some of the other research-related work. JPMorgan Asset & Wealth Management also saw a 20% year-over-year increase in gross sales between 2023-2024, with Gen AI-driven tools which has helped teams focus more effectively on high-impact client work, it said. "AI has also been handling a lot of anticipatory work, allowing advisors to be prepared for what could have otherwise been a very stressful moment with market movements," Erdoes said. JPMorgan had a technology budget of $17 billion last year. The bank already has about 450 potential cases for which it could use AI, and CEO Jamie Dimon expects those potential applications to surge to 1,000 by next year, he said earlier this year. Portfolio managers in asset management are also using the AI tools, Erdoes said. The bank's GenAI toolkit which is now deployed on the desktops of more than 200,000 employees, more than half of whom use it several times a day, the bank said. The bank employs almost 320,000 people. "We are trying to democratize AI and put it in the hands of more employees instead of a select group," Erdoes added. Harvard Business School recently published a case study on the potential of generative AI which included the tools being used by the 4,000 advisers serving JPMorgan's high-net-worth private bank clients to study its impact on the bank's business. The initiatives have already saved the bank nearly $1.5 billion through fraud prevention, personalization, trading, operational efficiencies and credit decisions, JPMorgan said.
CNA
05-05-2025
- Business
- CNA
JPMorgan says AI helped boost sales, add clients in market turmoil
NEW YORK :JPMorgan Chase's artificial intelligence tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April's market rout, the bank's CEO of asset and wealth management said. The largest U.S. lender, along with its peers has been ramping up its use of AI. Goldman Sachs is rolling out a generative AI assistant to its bankers, traders and asset managers, while Morgan Stanley developed a chatbot for its financial advisers with OpenAI. JPMorgan's AI tools have supercharged the speed at which its bankers could provide research and investment advice to wealthy clients last month at a time when the U.S. tariff announcements erased trillions of dollars from the stock market. "In the last few weeks, there have been several fluctuations in the market which are not in normal bite sizes, making it very complicated to think about all your clients and all the things required to do," Mary Erdoes said. The "powerful" AI tools helped advisors to quickly handle client requests by pulling data on their trading patterns and anticipating queries, she said. In the days surrounding U.S. President Donald Trump's tariff announcement last month, U.S. stock markets set a new record for single-day trading volume, and posted some of the sharpest intraday swings of the past 50 years. The volatility prompted individual investors to call their bankers seeking advice, Erdoes told Reuters. "When you have a tool that pre-populates all the data and the movement in real time, while also remembering clients' old investment preferences and helps in tailoring a plan for them quickly, it also allows advisors to do much more," she added. JPMorgan's so-called Coach AI tool used by private client advisers is quicker at locating content and research to drive conversations with clients. "Our advisors are finding the right information up to 95 per cent faster-which means they spend less time searching and more time engaging in meaningful conversations with clients," said Mike Urciuoli, chief information officer at JPMorgan asset and wealth management. "It's a great example of how of AI isn't replacing human touch, it's enhancing it," Urciuoli added. ADDING CLIENTS The app will help advisers expand their client rosters by 50 per cent in the next three-to-five years by enabling them to take on more clients, with AI handling some of the other research-related work. JPMorgan Asset & Wealth Management also saw a 20 per cent year-over-year increase in gross sales between 2023-2024, with Gen AI-driven tools which has helped teams focus more effectively on high-impact client work, it said. "AI has also been handling a lot of anticipatory work, allowing advisors to be prepared for what could have otherwise been a very stressful moment with market movements," Erdoes said. JPMorgan had a technology budget of $17 billion last year. The bank already has about 450 potential cases for which it could use AI, and CEO Jamie Dimon expects those potential applications to surge to 1,000 by next year, he said earlier this year. Portfolio managers in asset management are also using the AI tools, Erdoes said. The bank's GenAI toolkit which is now deployed on the desktops of more than 200,000 employees, more than half of whom use it several times a day, the bank said. The bank employs almost 320,000 people. "We are trying to democratize AI and put it in the hands of more employees instead of a select group," Erdoes added. Harvard Business School recently published a case study on the potential of generative AI which included the tools being used by the 4,000 advisers serving JPMorgan's high-net-worth private bank clients to study its impact on the bank's business. The initiatives have already saved the bank nearly $1.5 billion through fraud prevention, personalization, trading, operational efficiencies and credit decisions, JPMorgan said.
Reuters
05-05-2025
- Business
- Reuters
JPMorgan says AI helped boost sales, add clients in market turmoil
NEW YORK, May 5 (Reuters) - JPMorgan Chase's (JPM.N), opens new tab artificial intelligence tools enabled it to boost sales to wealthy clients and manage scores of requests from worried customers even during April's market rout, the bank's CEO of asset and wealth management said. The largest U.S. lender, along with its peers has been ramping up its use of AI. Goldman Sachs is rolling out a generative AI assistant to its bankers, traders and asset managers, while Morgan Stanley developed a chatbot for its financial advisers with OpenAI. JPMorgan's AI tools have supercharged the speed at which its bankers could provide research and investment advice to wealthy clients last month at a time when the U.S. tariff announcements erased trillions of dollars from the stock market. "In the last few weeks, there have been several fluctuations in the market which are not in normal bite sizes, making it very complicated to think about all your clients and all the things required to do," Mary Erdoes said. The "powerful" AI tools helped advisors to quickly handle client requests by pulling data on their trading patterns and anticipating queries, she said. In the days surrounding U.S. President Donald Trump's tariff announcement last month, U.S. stock markets set a new record for single-day trading volume, and posted some of the sharpest intraday swings of the past 50 years. The volatility prompted individual investors to call their bankers seeking advice, Erdoes told Reuters. "When you have a tool that pre-populates all the data and the movement in real time, while also remembering clients' old investment preferences and helps in tailoring a plan for them quickly, it also allows advisors to do much more," she added. JPMorgan's so-called Coach AI tool used by private client advisers is quicker at locating content and research to drive conversations with clients. "Our advisors are finding the right information up to 95% faster--which means they spend less time searching and more time engaging in meaningful conversations with clients," said Mike Urciuoli, chief information officer at JPMorgan asset and wealth management. "It's a great example of how of AI isn't replacing human touch, it's enhancing it," Urciuoli added. ADDING CLIENTS The app will help advisers expand their client rosters by 50% in the next three-to-five years by enabling them to take on more clients, with AI handling some of the other research-related work. JPMorgan Asset & Wealth Management also saw a 20% year-over-year increase in gross sales between 2023-2024, with Gen AI-driven tools which has helped teams focus more effectively on high-impact client work, it said. "AI has also been handling a lot of anticipatory work, allowing advisors to be prepared for what could have otherwise been a very stressful moment with market movements," Erdoes said. JPMorgan had a technology budget of $17 billion last year. The bank already has about 450 potential cases for which it could use AI, and CEO Jamie Dimon expects those potential applications to surge to 1,000 by next year, he said earlier this year. Portfolio managers in asset management are also using the AI tools, Erdoes said. The bank's GenAI toolkit which is now deployed on the desktops of more than 200,000 employees, more than half of whom use it several times a day, the bank said. The bank employs almost 320,000 people. "We are trying to democratize AI and put it in the hands of more employees instead of a select group," Erdoes added. Harvard Business School recently published a case study on the potential of generative AI which included the tools being used by the 4,000 advisers serving JPMorgan's high-net-worth private bank clients to study its impact on the bank's business. The initiatives have already saved the bank nearly $1.5 billion through fraud prevention, personalization, trading, operational efficiencies and credit decisions, JPMorgan said.
Malaysian Reserve
24-04-2025
- Health
- Malaysian Reserve
Somatic Health and Kinetisense to Commence a Groundbreaking Clinical Study with Rothman Orthopaedics
NEW YORK, April 24, 2025 /PRNewswire/ — Somatic Health and Kinetisense are launching a cutting edge clinical study in partnership with Rothman Orthopaedics to evaluate the impact of their platform on pain, disability, and cost reduction in Musculoskeletal (MSK) patients. Rothman-supervised physicians and physical therapists will deploy Somatic's solutions incorporating a 3D sensorless motion caption system which is powered by Kinetisense—along with at-home components—to safely extend care between in-clinic sessions and increase patient engagement. Dr. Arnold Milstein, Director of Stanford Medicine's Clinical Excellence Research Center, will advise on study design and execution. According to William Brossman, VP of Strategic Partnerships at Somatic, 'the study aims to quantify reductions in healthcare costs by supporting early intervention, effective triage, and injury prevention—reducing the need for surgery or long-term MSK care.' The study will also track outcomes such as reductions in workplace injuries, fewer lost workdays, and a decline in workers' compensation claims—ultimately promoting a safer, healthier, and more productive workforce. AI Meets Evidence-Based Movement Science At the core of the offering is Somatic's advanced corrective exercise engine, powered by proprietary algorithms developed in collaboration with the University of Pittsburgh School of Rehabilitation Science (SHRS)—a national leader in physical therapy research and clinical innovation. This advanced AI system translates the Kinetisense real-time 3D motion data into actionable insights, enabling users to identify and correct faulty movement patterns, reduce pain, and prevent reinjury. The engine seamlessly integrates with Somatic's extensive library of personalized home exercise programs (HEPs), supported by trusted institutions including Stanford Medicine, Kaiser Permanente, and UCSF. The video library includes over 4,200 exercises mapped to 1,000+ ICD-10 codes, and also offers clinicians the flexibility to upload their own content—delivering a fully customizable, interactive rehabilitation experience. 'Clinicians will now have a full-scale, evidence-based platform to objectively assess and track patient progress—even post-discharge,' said Dr. Tony Zhang, CEO of Somatic Health. 'With Somatic's hybrid 'online + clinic' model, we're helping people identify risk factors like falls and MSK dysfunction early, and deliver ongoing, proactive care.' Dr. Ryan Comeau, CEO and Co-Founder of Kinetisense, added: 'Our healthcare systems have long lacked scalable, evidence-based MSK care and injury prevention. By combining our sensorless 3D motion capture with Somatic's platform, we can deliver continuous, data-driven MSK support that improves clinical outcomes, enhances operational efficiency, and supports healthier workforces.' Introducing 'CoachAI': Your AI-Powered MSK Health Guide AI is also transforming how providers engage with patients. Somatic's new virtual assistant, CoachAI, offers employees and patients a personal AI 'coach' to guide them through injury prevention and recovery—every step of the way. CoachAI delivers daily, real-time support through personalized feedback, smart reminders, and progress tracking. The result? Higher patient engagement and greater adherence to treatment plans, reduced MSK-related costs, and better outcomes. Its secure, proprietary design sets it apart from generic models like ChatGPT, Gemini and DeepSeek. 'Unlike open-source AI models that pose privacy risks and often lack reliability, Somatic's AI is purpose-built for healthcare,' said Jasmel Acosta, VP of AI at Somatic. 'It protects patient privacy as required by HIPAA, streamlines clinical workflows, and supports both doctors and patients with trusted, actionable insights.' Media Contacts: Tony Zhang, CEO – Somatic Healthtony@ Ryan Comeau, CEO – Kinetisenseryan@
