JPMorgan & Capital One Dominate Banking’s AI Race in 2024

According to Evident's AI Index for 2024, JPMorgan Chase and Capital One are spearheading the banking sector's AI revolution. JPMorgan boasts over 2,000 AI specialists and anticipates up to $2 billion from its AI ventures, especially in fraud prevention. Meanwhile, Capital One, boosted by hires like Nvidia’s Milind Naphade, leads in AI patents. With AI tools deployed to 140,000 employees and ambitious cloud migration goals by year-end, these banks are setting a high bar—leaving slower competitors scrambling to catch up.