The Rise of Artificial Intelligence at JPMorgan
America's banks have been using artificial intelligence to spot fraud for years. JPMorgan Chase, the country's biggest bank, is now making a bigger bet on AI, working to put it at the center of how its 300,000 employees work.
In the past year, JPMorgan rolled out a tool it calls LLM Suite for most of its employees that allows them to use generative artificial intelligence from OpenAI and others. It's also adding generative AI in call centers for agents that deal with Chase Bank customers.
Teresa Heitsenrether, JPMorgan's chief data and analytics officer, was tapped to oversee the firm's AI strategy in 2023. She isn't a software engineer or a technologist. But after more than 20 years running key businesses at JPMorgan, she was able to identify where the firm can best use technology to boost productivity—and had earned the trust of the company's leaders.
'When the generative AI wave started to really take off, we wanted to make sure that there was somebody really focused on this as a full-time job at [CEO] Jamie Dimon's table because of the strategic importance that we see for the future of the firm,' she says.
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