American Express (Amex) intends to leverage artificial intelligence (AI) to enhance various aspects of its operations, including transaction validation, credit line approvals, customer sentiment analysis, and financial predictions. However, Amex has no immediate plans to develop its own large language model (LLM) to compete with existing AI models like OpenAI’s ChatGPT and Google’s Bard. Luke Gebb, Senior Vice President of American Express Digital Labs, stated that the company is more inclined to explore partnerships with existing LLM providers. While Amex hasn’t disclosed specific partners, it has previously collaborated with Microsoft in developing cloud-based AI technologies. Although the exact partnerships for AI services are yet to be determined, Gebb outlined several areas where Amex aims to integrate AI into its systems. These include accelerating transaction approvals, analyzing customer sentiment through LLM-powered data analysis, and utilizing AI for card and credit line approvals. Amex’s approach reflects a cautious stance towards incorporating the latest AI technologies into its products and services, aligning with its overall approach to fintech innovation. While competitors like Mastercard and Visa have embraced cryptocurrency payments, Amex has taken a more measured approach by offering a crypto rewards card but refraining from enabling cryptocurrency payments.
US district judge refers FTX independent examiner issue to appellate court
A motion for the appointment of an independent examiner in the bankruptcy case of crypto exchange FTX has been referred...
