Banks Reinvesting in Human Relationships Through AI-Driven Technology
JPMorgan Chase is increasing its technology budget to nearly $20 billion for 2026 with a significant portion allocated to artificial intelligence (AI). Bank of America plans similar investments at around $14 billion. The shift reflects an industry trend toward re-emphasizing customer relationships after decades focused on automation and scale, as neobanks struggle to match traditional banks in revenue per user.
Topics: AI banking transformation neobanks relationship banking