Prag Sharma, head of AI center of excellence at Citi. Prag Sharma, head of AI center of excellence at Citi. Combined, they are responsible for how digital products, including the bank's AI-powered chatbot Erica, are deployed. Katz, who represents digital strategy, works with Gopalkrishnan, whose domain is tech and ops. Katz reports into Tyrie and Gopalkrishnan reports to Aditya Bhasin, chief technology and information officer. Meanwhile, Gopalkrishnan and Katz work across business lines, operating as a team in the bank's so-called "hand and glove" structure, which pairs up digital strategy execs with back-end tech experts. Douglas, who spent 16 years at E*Trade before joining BofA in 2015, covers AI, digital, and data initiatives for consumer. Kitchell, who originally created Bank of America's AI-powered virtual assistant Erica, serves as CXO for wealth. A McKinsey alum, Pascal also leads Banker Assist, an AI tool that helps investment banking employees with various tasks, such as compiling a client profile ahead of a meeting. Pascal is the CXO for business, which spans small business, commercial, and investment banking. The CXOs oversee marketing, digital, and data efforts, including how AI is used among employees and customers. Robert Pascal, chief experience officer of businessĪt Bank of America, AI is organized along business lines.Ĭhief experience officers are embedded into different business divisions and report into David Tyrie, who serves in a dual role as chief digital officer and chief marketing officer.Christian Kitchell, chief experience officer of wealth management.Hari Gopalkrishnan, head of retail, preferred, small business, and wealth management technology.Teron Douglas, chief experience officer of consumer banking, investments, and retirement.(Clockwise from top left) Bank of America's Hari Gopalkrishnan, Christian Kitchell, Robert Pascal, Teron Douglas, and Nikki Katz. Here's a list of 17 of the top AI executives to know at the nation's six biggest banks. The organization pulls together top AI leaders from across the bank, from the bank's head of AI research to the head of a buy-side data service.īanks' priorities and tech strategies can also be gleaned from which divisions have dedicated AI leaders and which don't. In June, the bank formed a new data and analytics unit that will be critical to JPM's AI use and strategy. JPMorgan, the country's largest bank with some 55,000 technologists and $14 billion tech budget, just rejigged its AI structure. The organizational structure of banks' AI leaders is also an evolving debate. Some have embedded AI experts into different lines of business, others use a centralized function to oversee AI efforts firmwide, and some opt for a mix of both. Of the nation's six largest banks, no two firms have the same AI leadership structure. Most bank leaders agree that generative AI and LLMs stand to shake-up the current banking landscape - a few would even argue that it's revolutionary.īut what banks can't seem to agree on is the best way to deploy AI throughout the organization. Firms have had to tread carefully around issues regarding intellectual property, privacy, and regulatory compliance. Private-equity giant EQT is exploring how it can be applied to dealmaking, while Goldman Sachs is getting non-tech workers to do more with software.īut there are also risks. The potential of the technology has not been overlooked in the financial world, with firms of all sizes coming up with new use cases. Data is in digital format, compute power can now be purchased and scaled, and open-source algorithms can be developed," Sharma added. "This time it's different because a number of things are aligned that were never aligned before. "AI goes through winters and summers, as we call them," Prag Sharma, the head of Citi's AI center of excellence, told Insider. While AI is not novel on Wall Street, generative AI and large language models (LLMs) have created new momentum because of their ability to ingest information and produce human-like answers to just about any prompt or question. This year is shaping up to be all about artificial intelligence, and Wall Street is no exception. Here are 17 of the top AI executives and technologists to know at the country's biggest banks.While all six big banks have dedicated AI leaders, no two banks have the same org structure.Banks are accelerating their AI research and use cases due to the rise of ChatGPT and generative AI.Account icon An icon in the shape of a person's head and shoulders.
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