JPMorgan Chase invests in AI

JPMorgan Chase has made a strategic investment in Volley.com, a startup that uses artificial intelligence to help large enterprises automatically generate training content for employees. Volley said it will use the funding to double its team of less than 20 over the next nine months.

JPMorgan’s investment comes as banks increasingly look to use artificial intelligence to make better use of the growing amount of data that they hold across a variety of business lines, ranging from trading to compliance.

The startup is developing software that can process data from disparate sources to create quizzes and other corporate training material such as cyber security or compliance courses. Its technology can help large companies, including banks, save money and time when creating educational content for employees.

JPMorgan takes equity stakes in young technology companies that can “help the bank enhance customer experience, become more efficient and protect its assets.”

Joseph Infozino is head of learning platforms at JPMorgan Chase.