JPMorgan Chase & Co has come into news highlights, with their deliberate investment in Volley.com, a Silicon Valley AI startup, which exploits artificial intelligence (AI) to help large corporate organizations in spontaneously generating training content for their employees.
Joseph Infozino, Head of learning platforms at JPMorgan Chase, said in a statement, “Volley’s innovative technology to ingest, integrate and target micro-learning content automatically can fundamentally transform the way firms like ours approach learning and knowledge management.”
Artificial intelligence for data handling
JPMorgan’s speculation comes as banks progressively hope to utilize AI,to improve application of the increasing amounts of information that they hold from trading to compliance, over a variety of business lines, as data handling and its security is becoming a prominent issue for large firms.
One of the oldest financial institutions in the United States, JPMorgan & Co has assets of $2.6 trillion with presence in over 100 markets. Currently, they provide services in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management.
“Employees today face a ‘knowledge explosion’ of unprecedented scale,” said Volley Founder and CTO Carson Kahn. Further, he stated, “Volley’s mission to computationally synthesize the world’s knowledge represents a giant leap toward helping the world learn faster and cheaper with artificial intelligence.”
Volley’s AI-powered mobile learning hub is focused on making corporate learning and knowledge management more autonomous, intelligent, engaging, and effective.The startup develops software that can process information from different sources to make tests, quizzes and other corporate training material, for example, digital security or compliance courses.
Volley’s Founder and Chief Technology Officer, Carson Kahn said in an interview that Volley’s innovation can help large companies, including banks, save money and time when creating educational content for employees.
Volley’s investors include giant firms such as Zuckerberg Education Ventures, a fund investing on behalf of Facebook Inc., and executives from Apple to Goldman Sachs Group Inc.
