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FRANK26: "BUS TOUR... I'LL EXPLAIN ON MONDAY."..............F26

JPMorgan Chase Supports Employees with AI Software from OpenAI

8/10/2024

 

JPMorgan Chase has rolled out a generative AI assistant to tens of thousands of its employees in recent weeks, the first phase of a broader plan to integrate the technology across the sprawling financial giant.

The software, called LLM Suite, is already available to more than 60,000 employees, helping them with tasks like writing emails and reports. It’s expected to eventually be as ubiquitous across the bank as video conferencing software Zoom, people familiar with the plans told CNBC.

Rather than developing its own AI models, JPMorgan designed LLM Suite to be a gateway for users to tap into large external models — the complex software that powers generative AI tools — and launched it with LLM from OpenAI, the maker of ChatGPT, according to the people.

“Ultimately, we want to be able to move seamlessly across models based on use cases,” Theresa Heitzenreither, JPMorgan’s head of data and analytics, said in an interview. “The plan is not to commit to a specific model of service providers.”

The move by JPMorgan, the largest US bank by assets, shows how quickly generative AI has spread across US businesses since ChatGPT arrived in late 2022.

 Rival bank Morgan Stanley has already released a pair of OpenAI-powered tools for its financial advisers.

Tech giant Apple said in June it was integrating OpenAI's models into the operating system of hundreds of millions of its consumer devices, significantly expanding its reach.

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