JPMorgan Chase has launched a generative artificial intelligence (AI) product designed to assist employees in their work, according to a report by the Financial Times. The new AI tool, a large language model called LLM Suite, is intended to perform tasks traditionally handled by research analysts, such as writing, idea generation, and summarizing documents.
The rollout of LLM Suite began earlier this year, and approximately 50,000 employees in the asset and wealth management division now have access to it. This move places JPMorgan at the forefront of integrating AI into financial services, following in the footsteps of its rival, Morgan Stanley, which partnered with OpenAI last September to launch a GenAI-powered chatbot for financial advisors.
JPMorgan has not commented on the Financial Times report.
