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In the future, human intervention will become optional, as it is today with robo-advisors. Personalization can help consumers feel seen. To be heeded and welcomed, proactive outreach must be relevant and useful. In a February 2024 Adobe and Econsultancy survey, consumers in the US and Europe placed the highest value on features that aim to help them address their specific needs.

Mass affluent consumers are a $177.2 trillion global market that banks have struggled to serve. Now emerging technologies are finally enabling them to capture this lucrative demographic.

Its robo-advisor, Marcus Invest, and savings accounts would be offered only to high-net-worth customers. The bank’s existing credit card partnerships would remain, but any new partnerships would be selective.

Next-level robo advisor: Executives at Investor Day also revealed the bank intends to invest $1 billion in tech development over the next year, with a focus on artificial intelligence (AI). That’s already being seen in JPMorgan’s recent patent application for IndexGPT.

On today's podcast episode, we discuss the significance of the Amazon-Anthropic deal and what's possible now that ChatGPT can talk to you and see things. "In Other News," we talk about whether Bard AI integrations can help Google catch up to the competition and why one company is producing 10,000 humanoid robots. Tune in to the discussion with our analysts Jacob Bourne and Gadjo Sevilla.