One of the largest financial services institutions in the United StatesJPMorgan ChaseJPMorgan Chase & Co. will require all new employees to undergoAI (AI) Training, to counter a disruptive technology that Chief Executive Officer Jamie Dimon has likened to the printing press and the steam engine.
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"All employees joining this year will undergo 'cue word engineering' training to prepare them for the future AI era," Mary Erdoes, head of JPMorgan's asset management division, said at an investor conference on Monday.
Ms. Erdos pointed out that AI is saving time and increasing profits in her department. Through AI, bankers can quickly access potential investment information when talking to clients, which reduces the tedious information search process in the past. In addition, AI can eliminate repetitive and mechanical work, which has saved some analysts 2 to 4 hours of work time per day.
JPMorgan Chase President Daniel Pinto said at the event that they expect the emerging technology to bring $1 billion to $1.5 billion in benefits to the company, and that artificial intelligence will have a "very, very" impact on the company's 60,000 developers and 80,000 operations and call center employees (nearly half of the company's employees).
Intriguingly, as Ms. Erdoes walked to the podium, she played a song that she said was generated by feeding the presentation into a large language model, highlighting how artificial intelligence has quietly permeated every level of JPMorgan.