Head of the asset and wealth management division Mary Erdoes remarked, "This year, everyone coming in here will have prompt engineering training to get them ready for the AI of the future," during the bank's investor day.

The technology will have a "very, very" substantial influence on the bank's 60,000 developers as well as its 80,000 operations and call center staff, according to company president Daniel Pinto, who spoke at the occasion.

Jamie Dimon, the CEO of JPMorgan, compared the introduction of AI to the advancements of the printing press and the steam engine in a letter to shareholders dated April 1.

"GenAI has the potential to augment virtually every job in the future, and we envision it helping us reimagine entire business workflows," stated Dimon in his writing.

With over 2000 AI and machine learning specialists and data scientists on staff, the Wall Street behemoth is now able to bring in over 400 use cases for the technology in fields like risk, fraud, and marketing.

The bank just revealed this month that it was utilizing OpenAI's GPT-4 model for a variety of themed investment baskets. The model first finds keywords related to a theme and then incorporates them into a natural language processing model that searches news articles for businesses that are connected in the topic.

Despite significant investment in AI expertise, JPMorgan has raised its share of AI research output from 30% in 2018 to 45% in 2023, according to a recent Evident analysis.

More than half of the talent pool available across the Top 10 banks for AI research is employed by the bank, which has over 200 AI researchers, more than four times that of its closest competitor, Royal Bank of Canada.