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The World's Biggest Bank J.P. Morgan, Has Launched Its Own ChatGPT-Like Product 'LLM Suite' — Can Do The Work Of A Research Analyst

The World's Biggest Bank J.P. Morgan, Has Launched Its Own ChatGPT-Like Product 'LLM Suite' — Can Do The Work Of A Research Analyst

A whopping, 50,000 employees have access to JPM's proprietary AI chatbot.

An internal memo seen by the FT, says LLM Suite can help employees in the asset & wealth divisions with writing, idea generation and summarising documents.

“Think of LLM Suite as a research analyst that can offer information, solutions and advice on a topic”.

JPM will spend around $17 billion on technology this year and already have 2,000 AI/ML experts and data scientists working for them.

In a recent interview with BBG, CEO Jamie Dimon said: "Every single process: errors, trading, hedging, research, every app, every database you're going to be pulling AI... AI's doing all the equity hedging for us, for the most part".

Wall Street rival, Morgan Stanley also launched its own AI assistant for wealth advisors "Debrief" this year. One thing is for certain — the top firms on Wall Street are investing heavily in AI and are already rolling out solutions.

Artificial Intelligence 🤝 Finance.A whopping, 50,000 employees have access to JPM's proprietary AI chatbot.

An internal memo seen by the FT, says LLM Suite can help employees in the asset & wealth divisions with writing, idea generation and summarising documents.

“Think of LLM Suite as a research analyst that can offer information, solutions and advice on a topic”.

JPM will spend around $17 billion on technology this year and already have 2,000 AI/ML experts and data scientists working for them.

In a recent interview with BBG, CEO Jamie Dimon said: "Every single process: errors, trading, hedging, research, every app, every database you're going to be pulling AI... AI's doing all the equity hedging for us, for the most part".

Wall Street rival, Morgan Stanley also launched its own AI assistant for wealth advisors "Debrief" this year. One thing is for certain — the top firms on Wall Street are investing heavily in AI and are already rolling out solutions.

Artificial Intelligence 🤝 Finance.