JPMorgan Chase & Co. Chief Information Officer Lori Beer is in the driver’s seat of one of the largest — if not the largest — technology operations in the financial services industry.
The bank employs more than 63,000 technologists, including thousands in Tampa, who are defining innovation around the most disruptive emerging technology the industry has seen in decades: artificial intelligence.
Use of generative AI is “still in the very early innings,” according to Beer, who visited JPMorgan’s Tampa campus last week, but the technology will ultimately be integrated into “everything that we do.”
“There’s value for individuals but also from a revenue generation standpoint — from task-level productivity — that’s what we’re seeing,” she said.
JPMorgan built its own AI application, LLM Suite, which it has rolled out to more than 140,000 employees so far. The bank, which worked with Microsoft to adapt the Open AI model with its own controls, draws from millions of data points from across the organization to proactively identify issues as well as to generate code and complete other technical tasks, she said.
“We are absolutely driving this at scale and using this [technology] to solve real business problems,” she said. “When we’re looking at the balance of our investments, there’s a set of things that we must do to drive value for the company in the short term and in the midterm. Then there’s stuff we just don’t know. But you have to learn and it has to shape your thinking about how to evolve. We did that early with AI. We did that early with blockchain. And we’re doing it early with quantum [computing].”
