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Say hello to your new coworker: Autonomous AI agents are coming to banks

Nov 27, 2024 - businessinsider.com
The demand for AI agents is growing in the finance industry, with startups and VCs eager to invest in them. AI agents are being used to automate tasks, with the hope that interacting with them will be similar to interacting with a human associate. The goal is to create multi-agent systems that can complete complex tasks more autonomously. JPMorgan is working towards giving employees AI assistants specific to their jobs, and it is predicted that every junior on Wall Street will have their own AI direct report in a year or two.

However, there are still challenges to overcome, such as defining when an AI agent is smarter than a human and building trust in these systems. Some believe that AI agents will outnumber humans by 2025, but what this means for work and life is still being figured out. Despite AI outperforming humans in a recent study, they fell short in making decisions on the fly. The hope is that AI will eventually be seamlessly embedded in an employee's workflow.

Key takeaways:

  • Finance firms are increasingly interested in AI agents that can automate combinations of tasks, leading to a rise in startups and VCs investing in this technology.
  • Startups like Mako AI are developing AI assistants for finance professionals, with the aim of making the interaction feel more like engaging with a human associate than a software tool.
  • JPMorgan is working towards providing employees with AI assistants specific to their roles, with CEO Jamie Dimon being a significant user of the bank's AI assistant suite.
  • Despite the advancements, there are still challenges to overcome, such as building trust in these systems and defining when an AI agent is smarter than a human.
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