JPMorgan Chase & Co. has reportedly halted its lending program focused on "situational awareness" following losses attributed to artificial intelligence usage. According to a report from the Financial Times, the bank has ceased underwriting for this specific type of credit.
The program, which involved lending to companies based on their ability to generate and monetize data, was reportedly paused after the bank experienced financial losses due to the use of AI technologies by borrowers. The decision comes as the financial institution adjusts its approach to credit underwriting in the evolving technological landscape.
