(US) JPMorgan Chase has implemented a generative artificial intelligence tool for its employees, which it calls “research analyst.” This tool can provide information, solutions and advice.
In particular, it is available to many people in the asset and capital management department and is called the LLM Suite, based on OpenAI’s ChatGPT.
How does it work?
- Creating text and summaries:
- LLM Suite can automatically generate text that is useful for creating summaries, reports or answering specific questions.
- Employees can provide context or a question, and the tool will generate an appropriate response.
- Writing help:
- Assists employees in drafting emails, reports, and other documents.
- Gives suggestions on grammar and style.
- Idea generation:
- The LLM Suite can help analysts generate insights for research or business strategies.
- Provides different perspectives and approaches.
- Data Analysis:
- It can process large amounts of data and extract relevant information.
- Helps employees make informed decisions.
- User interaction:
- The tool can support conversations with employees by providing consistent and context-appropriate responses.
The LLM Suite is a versatile tool that uses natural language processing (NLP) techniques to improve JPMorgan’s productivity and efficiency.
Although it does not contain specific knowledge for this unit, it is designed to improve general productivity by assisting with tasks such as writing, generating ideas and summarizing documents.
JPMorgan CEO Jamie Dimon, a proponent of artificial intelligence who likens its importance to a steam engine or the Internet, said on an April episode of The Circuit with Emily Chung that the technology will be integrated into each and every process at the bank, including trading, research, hedging equity and customer service.
JPMorgan isn’t the only one using artificial intelligence
Citigroup said it will give its 40,000 programmers the opportunity to experiment with various artificial intelligence technologies. The bank also uses generative artificial intelligence to quickly sift through hundreds of pages of regulatory proposals.
Deutsche Bank AG uses artificial intelligence to analyze the portfolios of high-net-worth clients. For its part, ING Groep NV is looking for possible defaulters.