JPMorgan’s AI Rollout Is Augmenting Jobs, Not Replacing Them

Nov. 21, 2024, 4:33 PM UTC

JPMorgan Chase & Co.’s ongoing adoption of generative artificial intelligence has augmented, not replaced, jobs so far, according to Teresa Heitsenrether, who oversees the firm’s AI efforts.

“What we’re seeing so far is certainly not that there’s no need for this particular job,” Heitsenrether, JPMorgan’s chief data and analytics officer, said Thursday at the Evident AI Symposium. “Where we have live use cases with generative AI, it’s in places like our asset- and wealth-management group where we are making our bankers more effective.”

JPMorgan Chief Data and Analytics Officer Teresa Heitsenrether talks about how the company is using an artificial intelligence assistant called LLM Suite. She speaks to Bloomberg’s Caroline Hyde at the Evident AI Symposium in New York. Source: Bloomberg

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