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JPMorgan Chase & Co (NYSE: JPM) has invested in a new AI venture signalling its conviction that artificial intelligence could be transformative in shaping the future of financial services.

Last week, the investment bank announced a strategic alliance with TIFIN.AI to develop AI-powered financial technology. In a press release, its Global Head of Wealth Management Advisory Solutions – Ted Dimig said:

JPMorgan and TIFIN’s collaboration underscores our shared belief that AI will not only reshape the financial services landscape, but accelerate the next era of innovation and efficiency.

Artificial intelligence delivered a $200 million boost to the bank’s revenue last year and it’s determined to capitalising further on AI to unlock $1.0 billion in business value this year.

Note that JPMorgan was previously reported working on a chatbot that would tap on artificial intelligence to offer investment advice.

Fact that the largest U.S. bank is investing in AI is a vote of confidence that artificial intelligence does indeed have applications within the financial service landscape – and that bodes well for up-and-coming platforms like AltSignals.

AltSignals is primarily a trading toolkit albeit with a unique twist.

Its flagship signal service that goes by “AltAlgo” has already built a loyal community comprising thousands of traders on Telegram. And now the financial technology company is working on integrating artificial intelligence to further improve the accuracy of its trading signals.

The upcoming AI-powered service that it’s calling “ActualizeAI” is expected to help further boost returns for traders. It’s conceivable, therefore, that launch of this new toolkit will attract more users.

Most importantly, though, AltSignals is not just a service you use to profit from the financial markets. The platform is actually an investment in itself as it’s powered by a native $ASI token.

At writing, $ASI is worth $0.018 in the pre-sale.  

The native token is an investment as it responds to rising demand with price appreciation – and a quick overview of its pre-sale suggests it’s seeing ample amounts of it.

$ASI is currently in Stage 2 of the pre-sale that has raised over $1.2 million already. Demand moving forward will likely hit new milestones considering AltSignals will eventually transition into a fully decentralised network.

What it means is that the community – also known as “you” – will have a say in how the platform develops and evolves over time as long as you own the $ASI token. It’ll be like being a shareholder in a company.

Simply put, the native token can appreciate in price and wins you the right to vote on matters critical to the future of AltSignals; a seemingly strong enough combo to drive demand.

Once the pre-sale is over, $ASI will list on crypto exchanges that tends to deliver a boost to crypto tokens. On top of that, AltSignals is uniquely positioned to capitalise on rapid growth in both artificial intelligence as well as the crypto market.

According to Statista, AI is expected to be an $800 billion market by 2027 and cryptocurrencies related revenue is expected to grow at a compound annual rate of 14.4% over the next four to five years.

Lastly, the U.S. Federal Reserve recently raised rates by another 25 basis points but signalled it may end up being its last hike (find out more).

That’s significant because once the central bank begins to go easy in terms of the monetary policy, the risk-on assets like cryptocurrencies start to see increased inflows. The Fed’s pivot, therefore, could also be a catalyst for AltSignals.

Estimates are for the $ASI token to hit $0.022 by the end of its current pre-sale – up about 25% from here. For more information on AltSignals, visit the project website here.

The post AltSignals in focus as JPMorgan invests in TIFIN.AI appeared first on Invezz.

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