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Inside JPMorgan's adoption of generative AI so far

Nov 22, 2024 - businessinsider.com
JPMorgan has rolled out its generative AI tool, the "LLM suite", to 200,000 employees, with CEO Jamie Dimon among its users. Teresa Heitsenrether, the bank's chief data and analytics officer, said the tool helps to make messages more concise and clear. The bank aims to integrate the AI technology into everyday workflows to improve efficiency. The next generation of the tool will go beyond helping employees write emails or summarise documents, and will be linked to their everyday workflow.

The rollout of the LLM suite has been met with enthusiasm, creating a "healthy competition" between teams. The bank offers training for employees to use the AI tools and is also relying on "superusers" to help with adoption. Heitsenrether said that the bank is engaging with those resistant to the technology now, as it will be harder to convert them once the technology becomes intertwined with workflows. By next year, Heitsenrether hopes to be discussing "enabling employees with their own assistant" that's specific to their jobs.

Key takeaways:

  • JPMorgan has rolled out its generative AI tool, the LLM Suite, to 200,000 of its employees as part of its ongoing adoption of AI technology.
  • The bank's CEO, Jamie Dimon, is a 'tremendous user' of the AI tools and is waiting for the ability to use them on his phone.
  • The response to the LLM rollout has been 'enthusiastic' and has created 'healthy competition' between teams, with the wealth and asset management arm being the first division to use generative AI.
  • By next year, JPMorgan hopes to enable employees with their own AI assistants that are specific to their jobs, although these systems will still require human oversight to ensure reliability in such a regulated industry.
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