JP Morgan Chase president Daniel Pinto says the bank expects to see up to $2 billion in value from its AI use cases, up from a $1.5 billion estimate in May. And speaking at the Barclays Global Financial Services conference in September, he said gen AI will have a big impact in improving processes and efficiencies. The company has already rolled out a gen AI assistant and is also looking to use AI and LLMs to optimize every process.
“We’re doing two things,” he says. “One is going through the big areas where we have operational services and look at every process to be optimized using artificial intelligence and large language models. And the second is deploying what we call LLM Suite to almost every employee. At the moment it’s being deployed to 140,000 employees to help them do their jobs.”
Operational efficiencies, he says, will be the biggest impact of gen AI in the short to medium term.
