NEW YORK–The nation’s largest bank, JPMorgan Chase, has shared some insights into its plans to become a fully AI-connected enterprise.
Part of the initiative includes LLM Suite, a portal created by the bank to harness large language models from the world’s leading AI startups. It currently uses models from OpenAI and Anthropic, according to CNBC.
The news outlet reported that every eight weeks LLM Suite is updated as the bank feeds it more from the vast databases and software applications of its major businesses, giving the platform more abilities, Derek Waldron, JPMorgan chief analytics officer.
The Broad Vision
“The broad vision that we’re working towards is one where the JPMorgan Chase of the future is going to be a fully AI-connected enterprise,” Waldron said during an interview.
According to Waldron, JPMorgan’s goal is to be “fundamentally rewired” for the coming artificial intelligence era,. Its plan includes providing every employee with AI agents, to automate every behind-the-scenes process, and to have “every client experience curated with AI concierges.”
“If the effort succeeds, the project could have profound implications for the bank’s employees, customers and shareholders — even the nature of corporate labor itself,” CNBC said.
A First Demo
CNBC said it was given the first demonstration of its AI platform seen by any outsider, which showed the program creating an investment banking deck in about 30 seconds, work that would’ve previously taken a team of junior bankers hours to complete.
And in a number that could intimidate many in credit unions, JPMorgan told CNBC that even with it $18 billion annual tech budget, it will take years for the company to realize AI’s potential by stitching the cognitive power of AI models together with the bank’s proprietary data and software programs.
“There is a value gap between what the technology is capable of and the ability to fully capture that within an enterprise,” Waldron said. Companies “do work in thousands of different applications, there’s a lot of work to connect those applications into an AI ecosystem and make them consumable.”
The End-State
The end state for JPMorgan, as envisioned by Waldron, is a future in which AI is woven into the fabric of the company, CNBC said.
“Every employee will have their own personalized AI assistant; every process is powered by AI agents, and every client experience has an AI concierge,” he said.
JPMorgan is now early in the next phase of its AI blueprint: It has begun deploying agentic AI to handle complex multistep tasks for employees, according to an internal road map provided by the bank, the report added.
