JP Morgan Chase stole a Google’s senior executive, in the middle of talent hunt war among the companies, to produce next-gen of services using artificial intelligence, AI, technology.
Apoorv Saxena, product management head of Google’s cloud based artificial intelligence, AI, department is hired by the bank in accordance with the memo acquired by CNBC. He will be starting his new career, as head of artificial intelligence, AI, and machine learning department of the firm, on Aug 31. Saxena will also be given the charge of asset and wealth management artificial intelligence, AI, technology department. He will be carrying out his services in Palo Alto, California.
Major players of tech industry such as Facebook, Google’s Alphabet, Silicon Valley startups, and group of financial and industrial companies are competing with each other, to get hold of a group of artificial intelligence, AI, specialists who can assist them in building an innovative computerized future. It implies that demand for experts has never been more greater, which is leading to compensation, and in some scenarios it is even worth millions of dollars.
In the hope of sabotaging major tech players from attracting their customers, banks have begun to look for experts outside finance department. They want managers for various departments in technology, beginning from machine learning to blockchain. According to the stats of a recent lender, J.P. Morgan Chase has hired about one third of its senior experts from outside.
Manuela Veloso, hired by the bank in May, was earlier the head of department of machine learning in Carnegie Mellon University. According to a memo, his services were required to look for opportunities that “could potentially transform financial services”.
Artificial intelligence and associated technologies are flying high and as a consequence the coming years will see wonders. They are most likely to feature ground-breaking innovations and earth-shattering advancements as compared to the previous time.