Sina US Stock News reported on the 12th, Beijing timeJ.P. MorganChief Information Officer Lori Beer (Lori Beer) said on Wednesday that the bank has begun using machine learning technology to process employee expense reports and determine whether they are in line with company policies.

At a conference in New York, she said, “We have basically cancelled the manager's approval. “We now conduct 100% of our audits through machine learning models to ensure that when we process travel and expense reports, they are consistent with our policies.”

Machine learning is an artificial intelligence that uses data analysis to discover patterns, improve itself over time, and make better decisions without explicit programming.

Although almost every industry faces the problem of how to monitor expenses, this problem is particularly serious in the financial sector, where many employees spend most of the year meeting customers on the road. Last year,Wells FargoMore than a dozen employees were fired or suspended because they falsified expense reports.

However, putting pressure on managers to spend more time reviewing reports, or hiring an auditor to do the reports for them, will generally increase expenses. J.P. Morgan's Bill said that using artificial intelligence, J.P. Morgan is “eliminating some of our managers' bureaucracy.”