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American Express intends to shore up its AI partnerships as it extends its footprint in the generative AI space, with plans on implementing AI-powered credit and transaction-approval systems.
The financial services giant said it would use the technology to decide whether to give customers the green light for lines of credit - and to analyze feedback from users.
The overall technology sector may be downsizing, but American Express is bulking up for a cross-department innovation initiative, and Visa, Mastercard and Discover are hiring thousands of programmers and developers.