Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Image: The Economics Times


July 27, 2024 Tags:

JPMorgan Chase has recently launched a new generative artificial intelligence (AI) tool designed to support its research analysts. According to a report from the Financial Times, this new AI system, which is similar to OpenAI’s ChatGPT, is being introduced to help the bank’s employees in various ways.
The AI tool, named LLM Suite, is being rolled out to JPMorgan’s asset and wealth management teams. This advanced language model is capable of assisting with tasks such as writing, brainstorming ideas, and summarizing documents. The bank's decision to integrate LLM Suite aims to enhance productivity and streamline the work of its research analysts.

This introduction is part of JPMorgan’s broader strategy to leverage technology and improve its operational efficiency. Since the beginning of the year, the bank has been gradually rolling out LLM Suite, and it is now available to approximately 50,000 of its employees. This deployment is expected to bring significant improvements to how the bank handles its research and reporting tasks.

The report highlights that JPMorgan’s move comes as part of a larger trend in the financial sector where banks are increasingly turning to AI technologies. For instance, Morgan Stanley, a major competitor, has already partnered with OpenAI to deploy its own generative AI tool, which offers financial advisors rapid access to the firm’s extensive knowledge base.

JPMorgan’s AI tool aims to improve efficiency by automating routine tasks and freeing up human analysts to focus on more complex and strategic work. By integrating AI into its workflow, JPMorgan hopes to not only enhance the productivity of its employees but also to stay competitive in a rapidly evolving financial landscape.

The LLM Suite’s capabilities include generating content, providing analytical support, and summarizing large volumes of information quickly. This should allow JPMorgan’s employees to handle more tasks with greater speed and accuracy. The tool is designed to work alongside human expertise, complementing rather than replacing the valuable insights that experienced analysts bring to the table.

As the use of AI becomes more prevalent in various industries, JPMorgan’s initiative reflects a growing recognition of the technology’s potential to transform traditional business practices. The bank’s move is likely to set a precedent for other financial institutions looking to adopt similar technologies to enhance their operations.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

You may also like

Meta Launches Personal AI App to Rival Chatgpt

Meta has stepped into the AI spotlight with the launch of its first standalone artificial intelligence app, designed to compete....

Amazon's First Internet Satellites Head to Space to Join Global Race

Amazon has officially entered the race for space-based internet. On Monday, it launched its first group of internet satellites into....

Alphabet climbs as AI bets drive ad strength, quelling market fears

Alphabet, the parent company of Google, saw its shares rise nearly 4% on Friday after it posted strong quarterly results.....

EV Interest Dips Among Canadians for Third Year Straight

A recent AutoTrader survey reveals that interest in electric vehicles (EVs) among Canadians is steadily declining, despite a noticeable drop....

Nations Boost Digital Defences as Cyber Threats Grow

In a troubling sign of the times, hackers backed by Russia’s government infiltrated a water facility in the small Texas....

Google to Challenge Part of US Court's Ruling in Monopoly Case

Google, part of Alphabet Inc., has announced plans to appeal a portion of the recent court ruling in the ongoing....

Google Faces £5B UK Lawsuit Over Search Engine Control

Google is now facing a massive £5 billion lawsuit in the United Kingdom, accusing the tech giant of using its....

Meta CEO Zuckerberg eyed Instagram split in 2018, email reveals

According to an internal email revealed during an ongoing antitrust trial, Meta CEO Mark Zuckerberg considered splitting Instagram from Facebook....

Meta’s Monopoly Trial Begins: What’s at Stake for Instagram and WhatsApp

In a major legal showdown, Meta CEO Mark Zuckerberg appeared in court on Monday as part of a historic antitrust....

 Future Legislation Must Address AI’s Role in News Compensation

As the media landscape evolves, researchers in Canada suggest future laws aimed at balancing the power between tech giants and....

Ireland Investigates Musk’s X Over AI Data Collection Practices

Ireland’s Data Protection Commission (DPC) has launched a formal investigation into Elon Musk’s platform X, formerly known as Twitter, over....

Google Cuts Prices for U.S. Government to Compete with Microsoft

In a bold move to expand its presence in the public sector, Google is now offering deep discounts on its....