JPMorgan Chase, one of the world’s largest banks, is preparing to launch a suite of generative AI tools powered by large language models (LLMs) by 2024. The bank aims to leverage the capabilities of LLMs to enhance various operations and services. Key points include: 1) JPMorgan’s AI suite will initially focus on internal applications to improve productivity and efficiency across departments. 2) The bank plans to integrate LLMs into customer-facing services like virtual assistants and personalized financial advice in the future. 3) JPMorgan recognizes the potential risks associated with AI and is taking measures to ensure responsible development and deployment, including rigorous testing and governance frameworks. 4) The bank’s AI strategy aligns with the broader industry trend of adopting generative AI to streamline processes, enhance customer experiences, and drive innovation.
Source: https://www.businessinsider.com/jpmorgan-generative-ai-adoption-llm-suite-2024-11