Tue Sep 10 17:00:44 UTC 2024: ## JPMorgan Chase Leans into AI-Driven Products to Help Small Businesses Thrive

**New York, NY -** JPMorgan Chase is focusing on AI-driven products to address the needs of small businesses, according to Jameson Troutman, head of product for small business. Troutman emphasizes a client-centric approach to innovation, using data from a monthly survey of 500 small business owners to identify key pain points and guide product development.

Recent product launches under Troutman’s leadership include:

* **Faster Payments:** An online payment center that allows businesses to pay vendors and employees quickly.
* **Invoicing:** A digital invoicing solution that simplifies creating invoices and billing customers.
* **Customer Insights:** A business intelligence platform offering data-driven insights to help businesses reach customers, run efficiently, and make strategic decisions.
* **Payroll:** An automated payroll solution for Chase Payment Solutions customers, streamlining employee payments.

Troutman highlights the importance of innovation in helping small businesses navigate the current economic landscape, particularly with rising costs. He states that cash flow management and adopting new digital technologies, especially AI, are key areas of focus.

According to a recent JPMorgan Chase survey, AI is the most popular technology small businesses plan to add in the next year, followed by cryptocurrency and virtual reality/Metaverse.

“Technology and artificial intelligence are here to stay,” says Troutman. “We expect it will have a great impact on the services we provide as a bank.”

The bank is committed to rapid product development, but prioritizes quality and functionality. Product launches may involve testing with a smaller group of customers before wider release.

Troutman emphasizes his leadership style as people-oriented, focusing on mentoring his team and fostering a culture of innovation.

“I enjoy coaching and helping individuals on my team succeed at their job and in their career,” he says. “I trust them to deliver best-in-class products.”

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