March 7, 2017
At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours.
The program, called COIN, for Contract Intelligence, does the mind-numbing job of interpreting commercial-loan agreements that, until the project went online in June, consumed 360,000 hours of work each year by lawyers and loan officers. The software reviews documents in seconds, is less error-prone and never asks for vacation.
While the financial industry has long touted its technological innovations, a new era of automation is now in overdrive as cheap computing power converges with fears of losing customers to startups. Made possible by investments in machine learning and a new private cloud network, COIN is just the start for the biggest U.S. bank. The firm recently set up technology hubs for teams specializing in big data, robotics and cloud infrastructure to find new sources of revenue, while reducing expenses and risks.
March 1, 2017
Deciding on a hybrid cloud provider has additional challenges over a public or private cloud offering. When you are looking at a private or public cloud you compare features and functionality based on one environment. However, with a hybrid cloud you have to look at the solution provided in both your environment and what is external to your environment.
February 9, 2017
If Black Friday and Cyber Monday are any indication, 2017 should be a good year for ecommerce. Indeed, in the United States alone, shoppers made an estimated $3.34 billion in online purchases on Black Friday and a whopping $3.39 billion the following Monday, breaking previous records.