JPMorgan will provide artificial intelligence training to all new employees

American-based finance giant JPMorgan decided to provide training in this field to all its new employees as part of its efforts to strengthen its reputation as an artificial intelligence power.

Speaking at the bank's investor day, Head of Wealth Management Mary Erdoes said: "Everyone who comes here this year will receive rapid training to prepare themselves for the artificial intelligence of the future." Company president Daniel Pinto stated at the event that artificial intelligence will have a "very, very" big impact on the bank's 60 thousand developers and 80 thousand operations and call center employees.

Jamie Dimon, a senior executive at JPMorgan, compared the development of artificial intelligence to the development of the printing press and the steam engine in his letter to shareholders in April. The global bank currently has more than 2,000 AI/ML experts and data scientists. This enables JPMorgan to obtain more than 400 solution scenarios in areas such as marketing, fraud and risk.

This month bank; announced that it used OpenAI's GPT-4 model for a series of thematic investment baskets, identifying keywords associated with a theme and then putting them into a natural language processing model that scans news articles to identify companies in that field.

A recent study by Evident found that JPMorgan increased its share of AI research output from 30% to 45% in 2023 compared to 2018. The bank employs more than 200 AI researchers, more than four times that of its closest rival, the Royal Bank of Canada, and nearly half the talent pool for AI research at the top 10 banks.