JP Morgan employs 2000 Ai engineers to give super power to its 50 thousand employees.

"JPMorgan, one of the biggest and most powerful banks in the world, just launched its own AI Chatbot that can do the work of a research analyst.

The banking giant has given about 50,000 employees of its asset and wealth management division access to a large language model platform which the bank is calling LLM Suite, as per an internal memo seen by the FT.

The LLM Suite can help JPM staff 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, the memo told employees.

This rollout marks one of Wall Street's largest use cases for LLMs. Earlier, another investment banking giant Morgan Stanley partnered with OpenAI to use AI startup's products for its wealth management business.

But this should come as no surprise.

• JPM has already built its own ChatGPT-based LLM to analyze Federal Reserve statements and speeches in an effort to sniff out potential trading signals.

• Back in May, JPM also unveiled IndexGPT, a tool designed to revolutionize thematic investing. IndexGPT leverages OpenAI's advanced GPT-4 language model to generate investment baskets based on emerging trends and themes.

On top of that, JPMorgan Chase CEO Jamie Dimon earlier revealed that the bank has more than 300 AI use cases in production 🤯

The banking giant is super serious about the future and Dimon is walking the walk - JPM now employs more than 2,000 data scientists and machine learning engineers to help build out its AI capabilities.

AI is going to change every job. It may eliminate some jobs. Some of it may create additional jobs. But you can't envision one app, one database, or one job where it's not going to help, aid or abet - Jamie Dimon"

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