JPMorgan & Chase Co. [NYSE: JPM] in collaboration with Amazon.com [NYSE: AMZN] are working to bring Alexa to the trading floor. Alexa would be able to send reports and allow users to communicate directly with JPMorgan’s systems for questions like Alexa, ask JP Morgan what the price target for Tencent Holdings [OTC: TCHEY] is.
As technology integrates itself into everyday life, there is little surprise that one of the largest banks in the U.S. would capitalize on infusing technology to inch ahead of competitors. Taking information that the bank has available that is time-consuming for individuals to look up and putting it on an easy to use the format that clients can access.
As clients’ habits evolve, it is essential that firms amalgamate technologies into their businesses and with JPMorgan at the helm, expect to see more entities utilizing tools like Alexa.
JPMorgan’s automated service, known in Amazon verbiage as a skill, is the latest shared project for the biggest U.S. bank and the world’s largest online retailer. Amazon already leases cloud computing power to JPMorgan and has asked the bank to compete in creating new products including a small-business credit card for its customers. The companies are also collaborating on a healthcare venture.
JPMorgan has seen that clients are open to new ways of interacting with technology. Not long after the bank created mobile apps for its trading business, it was recording large trades, including a $400 million currency bet last year.
So allowing Alexa users to access JPMorgan data from wherever they choose to work — home, office or on the go — makes sense.
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