Banks and Smart Computers

/ 1st Grade ELA / By

Banks and Smart Computers

Right now, big banks are using something new and exciting called Artificial Intelligence, or AI for short. AI is like a very smart computer helper. It can learn, think, and help people do their jobs. The banks started using a lot of this new AI in the last few years.

Banks help people save money and help businesses grow. They have many workers who do important jobs. Now, these workers are getting smart computer helpers.

For example, at a bank called JPMorgan Chase, many workers use an AI tool. It helps them write reports and make good choices. The boss of the bank even uses it!

Another bank, Citigroup, taught thousands of its workers how to use AI. Their AI helper saves time by checking computer code very fast. This lets the workers have more time for other important tasks.

At Bank of America, they have a friendly AI helper named Erica. Erica talks to customers every day, answering millions of their questions. Inside the bank, workers use an AI helper to get ready for meetings with people who use the bank.

Using AI can make work faster and better. But sometimes, leaders at banks say it can be hard to keep everything safe with new technology. They are learning how to use AI in the best way.

These smart computers are changing how banks work. They are helping workers be more helpful to everyone who uses the bank. It is an interesting change that is happening now!

Vocabulary Words

  1. Banks: Places where people keep their money safe or borrow money.
  2. Artificial Intelligence (AI): A smart computer program that can learn and help with tasks.
  3. Workers: People who have a job to do.
  4. Helper: Someone or something that assists you.
  5. Customers: People who buy things or use services from a store or company.

Comprehension Questions

  1. What is AI?
    A. A new type of money
    B. A smart computer helper
    C. A kind of bank
    D. A worker‘s name
  2. What is the name of the AI helper at Bank of America?
    A. Proxy IQ
    B. Jamie
    C. Erica
    D. DevGen
  3. What did Citigroup’s AI helper save a lot of?
    A. Money
    B. Worker time
    C. New banks
    D. Computers
  4. According to the passage, when did banks start using a lot of this new AI?
    A. A long, long time ago
    B. In the last few years
    C. Next year
    D. Only on weekends
  5. What is one thing the passage says AI can do?
    A. Drive a car
    B. Answer customer questions
    C. Cook food
    D. Fly an airplane

Answer Key

  1. B
  2. C
  3. B
  4. B
  5. B
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