Banks accelerated their AI research and use cases due to the rise of ChatGPT

Alex Brandon/AP Photo; Getty Images; Alyssa Powell/BI

JPMorgan has a technology budget of $18 billion, with much of it going toward making sure it’s a leader in AI.

JPMorgan CEO Jamie Dimon is a “tremendous” user of the bank’s generative AI suite. While its private bankers were some of the first to be equipped with a generative AI “copilot” last May, the bank has rolled out its proprietary genAI platform to over 200,000 employees.
Executives at America’s largest bank gave an inside look at how it’s scaling tools and delivering measurable results at its Investor Day in May.
- AI is core to JPMorgan’s $18 billion tech investment. Here’s what its execs revealed about how it’s reshaping the bank.
Dimon has previously said he’s out to win the AI arms race.
- Meet who he’s put in charge of this critical mission.
- JPMorgan’s Lori Beer just added 2 new tech leaders to her ranks. Meet the team behind the bank’s AI future.
Goldman Sachs’ chief information officer, Marco Argenti, and head of machine learning quants, Dimitris Tsementzis, say we are at an inflection point with AI. The technology is already changing how employees at the Wall Street giant do business. CEO David Solomon has said AI is changing processes like drafting IPO filings and analyst research.
- 7 Goldman Sachs insiders explain how the bank’s new AI sidekick is helping them crush it at work