Wells Fargo has inked a multi-year agreement with IBM to enhance its artificial intelligence (AI) and quantum computing capabilities.
The agreement will see the application of IBM’s latest AI and quantum computing research to drive financial technology (FinTech) innovation at Wells Fargo, thereby delivering a simple, fast, safe and convenient experience for its customers.
As part of the agreement, Wells Fargo will join the IBM Q Network, a community of enterprise companies, startups, academic institutions and research labs working to advance quantum computing and explore practical applications. It will also become a member of the MIT-IBM Watson AI Lab member program, a collaborative of more than 200 MIT and IBM scientists jointly focusing on advancing AI research with a business impact, in areas such as neuro-symbolic systems, natural language processing, and causal inference.
“Wells Fargo is very excited to accelerate our learning efforts in artificial intelligence and quantum computing through this relationship with IBM Research. We are looking forward to exploring how advances in artificial intelligence and quantum computing can help make banking faster, easier, smarter, and safer — for our customers and the whole financial services industry.” Ravi Radhakrishnan, head of wholesale, wealth & investment management, and innovation technology at Wells Fargo commented.
“We are delighted to be able to work with Wells Fargo to explore how the frontiers of information technology, from AI to quantum computing, will ultimately impact the financial sector and the banking experience,” Dario Gil, director of IBM Research added.
It is a diversified, community-based financial services company with $1.9 trillion in assets. the company helps its customers succeed financially. Headquartered in San Francisco, it provides banking, investment and mortgage products, and services, as well as consumer and commercial finance.
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