Build the platform, rent the models, deploy to everyone — then redeploy the people.
How is JPMorgan using AI?
JPMorgan Chase runs the most publicly documented AI program in banking: a technology budget of nearly $20 billion a year, more than 63,000 technologists, and a proprietary generative-AI platform, LLM Suite, that has been in the hands of most of its workforce since 2024. Its stated end state, per chief analytics officer Derek Waldron, is a bank in which every employee has a personal AI assistant, every process is run by agents and every client has an AI concierge. In 2026 the program moved from tools to workforce: CEO Jamie Dimon told the July earnings call that AI had cut headcount by 30 to 40 percent in some units, while the bank said it expects to deploy agents that run autonomously for hours before year-end. On the same call Dimon put the count at almost 1,000 AI use cases, about 50 of them 'really important', and the 2025 10-K now lists generative and agentic AI systems, AI-enabled cyber threats and workforce displacement among its risk factors. Leadership changed in July 2026: chief data and analytics officer Teresa Heitsenrether is retiring at year-end, and CTO Scot Baldry takes on her title and the firm's overall AI program.
Lead bank
JPMorgan Chase Bank, N.A.
Assets (lead bank, Mar 31, 2026)
$4.02 trillion
Charter
National bank (OCC)
Headquarters
New York, NY
Flagship platform
LLM Suite
AI leadership
Lori Beer · Teresa Heitsenrether · Derek Waldron · Guy Halamish · Jamie Dimon · Scot Baldry · Manoj Sindhwani · Mark Birkhead · William Patrick Opet · Sumitra Ganesh
- Technology budget of about $18 billion in 2025 and nearly $20 billion in 2026; 63,000-plus technologists under global CIO Lori Beer.
- LLM Suite launched in 2024 as an opt-in corporate ChatGPT and became the firm's flagship gen-AI platform; American Banker's Innovation of the Year 2025.
- Evident's AI index has ranked JPMorgan first among the world's largest banks every year the index has run.
- Agent strategy is explicit and published: a March 2026 engineering post sets safeguards by an agent's capability and 'blast radius'; a June 2026 interview promised long-running autonomous agents in 2026.
- The workforce effect is now disclosed: 30–40% headcount reductions in some units, a 'huge redeployment' plan, and a warning from Dimon that 'you don't uniquely benefit from AI' because rivals have the same tools.
- A named launch partner for Anthropic's restricted Mythos model under Project Glasswing; Dimon calls frontier-model cyber risk 'very heightened'.
- Almost 1,000 AI use cases, 50 'really important' ones across risk, fraud, marketing, hedging, prospecting, note-taking, idea generation and document reading (Q2 2026 call); AI solutions in production doubled in 2025 (February 2026 company update).
- AI leadership reset, July 2026: Heitsenrether retires at end-2026; CTO Scot Baldry becomes chief data and analytics officer and runs the AI program; Manoj Sindhwani takes the data and AI product team; Sumitra Ganesh has led AI research since February.
What is LLM Suite?
A proprietary abstraction layer through which third-party models (OpenAI, Anthropic and others) are swapped in and out; rolled out firm-wide in 2024, available to roughly 250,000 employees by late 2025, with about half using it daily.[17][18]
What has JPMorgan done on AI, and when?
- Sep 29, 2026
Tops Fortune's expanded AIQ 75 ranking[36]
Fortune and ServiceNow's 2026 AIQ ranking of Fortune 500 companies implementing AI expands from 50 to 75 firms; JPMorgan Chase ranks first overall, ahead of Alphabet, Coca-Cola, Amazon and Nvidia, leading the U.S. commercial-bank cohort (BNY 15, Bank of America 19, Citigroup 51, Wells Fargo 53, Capital One 62).
- Sep 28, 2026
Joins Nvidia-led push for open-source AI agent safety tools[35]
JPMorgan signs on to a shared, open-source safety effort for AI agents led by Nvidia, as the industry works out how to give agents more autonomy without losing control.
- Jul 27, 2026
AI leadership reset[33]
Baldry helms the AI program as chief data and analytics officer; Manoj Sindhwani adds the data and AI product team; Sumitra Ganesh has led AI research since Manuela Veloso left in February; the CDAO office shifts from AI infrastructure to business initiatives.
- Jul 14, 2026
- Jul 14, 2026
AI has cut 30–40% of jobs in some units[5]
On the record-quarter earnings call Dimon discloses the reductions, says most staff were offered other roles, and cautions that margins will not uniquely benefit.
- Jul 2, 2026
AI chief Heitsenrether to retire[32]
The chief data and analytics officer, who led the LLM Suite build-out, leaves at year-end; her title and portfolio go to CTO Scot Baldry.
- Jun 18, 2026
Anthropic access cut for Hong Kong staff[12]
Claude models removed from the approved list in Hong Kong, following a similar move by Goldman Sachs.
- Jun 9, 2026
Long-running agents promised for 2026[1]
Waldron: agents will run for an hour or two, act as 'team managers' delegating to sub-agents; AI already lifted private-banking gross sales 20%.
- May 19, 2026
CIO: early AI tools lift productivity up to 30%[8]
Beer tells Bloomberg TV agentic AI promises more, while the bank races to contain new risks.
- Apr 14, 2026
Q1 2026 call: the 'AI cash tool' is an experiment[30]
Barnum says the consumer AI cash tool from Dimon's letter is 'kind of not even live yet' and aimed at a very small subset of clients; Dimon calls cyber the firm's largest risk and says AI 'has made it worse'.
- Apr 14, 2026
- Apr 2, 2026
Fence guardrail framework[23]
A data-driven framework that tests LLM use cases for hallucination, topic drift and prompt injection using synthetic data.
- Mar 23, 2026
Engineering post on securing agents[22]
The bank publishes its approach: align safeguards to capability and risk; agents combining untrusted inputs, sensitive data and authority to act require continuous enforcement.
- Feb 24, 2026
- Feb 23, 2026
Company update deck: AI solutions in production doubled in 2025[27]
The 8-K presentation guides 2026 technology expense to about $19.8 billion, up 10%, and says revenue is the largest contributor to AI benefits, with generative AI the fastest-growing segment.
- Feb 13, 2026
2025 10-K adds a generative and agentic AI risk factor[26]
The annual report lists AI system failures, biased or inaccurate output, agentic systems acting on sensitive data, AI-enabled cyber threats, evolving AI law and AI-driven workforce displacement as risks.
- Feb 12, 2026
- Jan 13, 2026
Q4 2025 call: about $105 billion of 2026 expense, AI included[29]
Management guides adjusted expense of roughly $105 billion to fund technology, payments and AI investment; Dimon says the bank is 'not going to try to meet some expense target' at the cost of falling behind.
- Dec 9, 2025
Productivity doubled with AI, says consumer chief[10]
Marianne Lake: consumer-bank productivity at 6% with AI versus 3% before; operations specialists' productivity expected to rise 40–50%.
- Oct 14, 2025
Q3 2025 call: AI savings are not the expense target[28]
Pressed on AI-driven productivity, CFO Jeremy Barnum says AI efficiencies are expected but the focus stays on traditional expense discipline and process improvement.
- Oct 13, 2025
Tops the Evident AI Index again[21]
The bank says it continues to lead the 50-bank index across talent, innovation, leadership and transparency.
- Sep 30, 2025
The 'fully AI-connected megabank' blueprint[2]
Waldron describes the end state: personal AI assistants for every employee, agent-powered processes, AI concierges for clients.
- Aug 9, 2024
LLM Suite reaches 60,000 employees[17]
CNBC reports the opt-in rollout; by mid-2025 American Banker describes it as available to almost all employees.
- Jan 1, 2023
Employees get OpenAI models through an early LLM Suite[2]
The groundwork for the firm-wide platform: a corporate ChatGPT for drafting emails and summarising documents.
Where does JPMorgan use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| LLM Suite and agentic workflows[1][19][20] | Firm-wide gen-AI platform; agents in production for software testing, private-banking research screening and payments; long-running agents planned for 2026. | In production | Generative & agentic AI |
| Call-centre and client assistants[13][2] | Generative AI in call centres for agents serving Chase customers; AI concierge for clients is the stated end state. | Rolling out | Customer-facing chatbots |
| Fraud and AML analytics[24] | Machine-learning monitoring across roughly $10 trillion of daily payment flows, per the bank's own operating description. | In production | Fraud detection |
| AI investing agents (research)[9] | Research built multi-agent systems that beat a 60/40 portfolio in two-decade backtests — a research result, not a product. | Pilot | Trading & capital markets |
| Frontier-model vulnerability testing[4] | Testing Mythos to find vulnerabilities in its own systems as a Glasswing partner. | Pilot | Cybersecurity |
| Firm-wide AI use-case portfolio[31][27] | Almost 1,000 use cases, about 50 of them 'really important' across risk, fraud, marketing, hedging, prospecting, note-taking, idea generation and document reading; AI solutions in production doubled in 2025. | In production | AI governance (general) |
| AI in model risk management and the 10-K risk factor[26] | Models 'including those based upon machine learning or artificial intelligence techniques' sit inside estimations and model risk management; the 10-K names generative and agentic AI failures, bias, transparency and evolving AI law as risks. | In production | Model risk management |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
Which AI vendors and fintechs does JPMorgan work with?
| Company | What JPMorgan uses it for | Status | Category |
|---|---|---|---|
| Kasisto | Named as a customer of Kasisto's KAI conversational AI platform in Kasisto's releases and in American Banker's 2026 acquisition report; the deployment is not described in either source. | In production | Conversational AI |
| ChatGPT Enterprise (OpenAI) | OpenAI models such as GPT-4 swapped into LLM Suite, the bank's in-house gen-AI portal used by 200,000 people. | In production | Enterprise AI assistants |
| Claude (Anthropic) | Claude models on the bank's internal list of approved LLMs under a licensing agreement (withdrawn for Hong Kong staff in June 2026); Project Glasswing launch partner testing Mythos. | In production | Enterprise AI assistants |
| Backbase | Kasisto conversational AI (Kasisto acquired by Backbase June 2026); the deployment is not described in the source | In production | Banking platforms |
| Plaid | Renewed data-access agreement with Plaid, including a pricing structure | Agreement | Fintech · Business finance & infrastructure |
Each vendor and fintech page cites the source for the relationship, and vendor pages list products, pricing and other bank customers. Compare AI tools for banks by category, or read the fintech and neobank AI dossiers.
What has JPMorgan disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Technology budget | ≈ $20 billion (2026); $18 billion (2025)[1][25] | Jun 9, 2026 |
| Technologists | 63,000+[15] | Jun 1, 2026 |
| LLM Suite access | ≈ 250,000 employees, about half daily users[18] | Apr 29, 2026 |
| Productivity lift from early tools | up to 30%[8] | May 19, 2026 |
| Private-banking gross sales lift | +20%[1] | Jun 9, 2026 |
| Headcount cut in some units | 30–40%[5] | Jul 14, 2026 |
| AI use cases | almost 1,000; about 50 'really important'[31][34] | Jul 14, 2026 |
| 2026 technology expense outlook | ≈ $19.8 billion, +10% year on year[27] | Feb 23, 2026 |
| AI solutions in production | doubled in 2025[27] | Dec 31, 2025 |
“We already have huge redeployment plans for our own people. We have displaced people from AI — and we offer them other jobs.”[3]
Jamie Dimon · Chairman and CEO · Feb 24, 2026
“We've entered now the era of long-running autonomous agents.”[1]
Derek Waldron · Chief Analytics Officer · Jun 9, 2026
“Early AI tools are boosting productivity as much as 30%.”[8]
Lori Beer · Global CIO · May 19, 2026
“I think there's almost 1,000 use cases today, though we'd say that the really important ones are 50 across risk, fraud, marketing, hedging, prospecting, note-taking, idea generation, document reading.”[31]
Jamie Dimon · Chairman and CEO · Jul 14, 2026
“The ultimate beneficiary of AI will be our customers.”[31][34]
Jamie Dimon · Chairman and CEO · Jul 14, 2026
Who runs AI at JPMorgan?
Lori BeerLinkedIn ↗
Global Chief Information Officer[15]
Teresa HeitsenretherLinkedIn ↗
Chief Data & Analytics Officer (retiring end-2026; title and portfolio passing to Scot Baldry)[16][32]
Derek WaldronLinkedIn ↗
Chief Analytics Officer[1]
Guy Halamish
COO, Commercial & Investment Bank, with the AI mandate[6]
Scot BaldryLinkedIn ↗
Chief Technology Officer, taking on the Chief Data & Analytics Officer role and the firm's AI program[33][32]
Manoj Sindhwani
CIO for AI/ML and data platforms; also leads the data and AI product team[33]
Mark BirkheadLinkedIn ↗
Firmwide Chief Data Officer[33]
William Patrick Opet
Head of information security, technology controls and technology risk, including AI security[33]
Sumitra GaneshLinkedIn ↗
Head of AI Research (since February 2026)[33]
What AI roles is JPMorgan hiring for?
12 open AI-related postings on JPMorgan's careers site as of Oct 1, 2026. A snapshot of current openings, not a source: postings close.
Applied ML and Generative AI Leader - Executive Director
Jersey City, NJ, United States · posted Sep 30, 2026
Executive Director AI Strategist - Principal Technical Program Manager
Jersey City, NJ, United States · posted Sep 29, 2026
Executive Director - Senior AI Product Manager
Bengaluru, Karnataka, India · posted Sep 25, 2026
AI & Data Science Executive Director
London, United Kingdom · posted Sep 22, 2026
J.P. Morgan Wealth Management - Executive Director, AI-Powered Wealth Growth & Sales Optimization
Columbus, OH, United States · posted Sep 18, 2026
Applied AI ML Executive Director, Chief Data & Analytics Office
Jersey City, NJ, United States · posted Aug 13, 2026
Artificial Intelligence Research Director - Executive Director
New York, NY, United States · posted Aug 13, 2026
Executive Director Machine Learning Engineer-MLOps
Palo Alto, CA, United States · posted Aug 4, 2026
Executive Director - Principal Software Engineer - Java, AI, NLP
Jersey City, NJ, United States · posted Jul 22, 2026
Business Modeling - Applied AI Modeling Executive Director
New York, NY, United States · posted Jun 22, 2026
Bengaluru, Karnataka, India · posted Oct 1, 2026
Director of Software Engineering and AI - Operations
Plano, TX, United States · posted Sep 30, 2026
Which regulators govern JPMorgan's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| OCC | Lead bank is a national bank; the revised interagency model risk guidance applies, and generative and agentic AI fall outside it into broader governance. | OCC Bulletin 2026-13 OCC Bulletin 2023-17 |
| Federal Reserve | Holding-company supervisor; SR 26-2 and the third-party guidance govern vendor models such as those behind LLM Suite. | SR 26-2 SR 23-4 |
| CFPB | Consumer lending and Chase chatbots answer to ECOA adverse-action and UDAAP expectations. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) CFPB Chatbots in Consumer Finance (issue spotlight, 2023) |
| EU AI Act | EU operations: credit scoring is high-risk from December 2, 2027; transparency duties since August 2026. | Regulation (EU) 2024/1689 |
| FSB | As a G-SIB, the FSB's proposed sound practices and its frontier-AI warning are written with banks like this in mind. | FSB AI sound practices consultation (June 2026) FSB Chair's letter to G20 (Aug 2026) |
Side by side: SR 11-7 vs SR 26-2 · OCC vs CFPB on AI lending · PRA SS1/23 vs SR 26-2 · EU AI Act vs Colorado AI Act · all comparisons.
What does the public record suggest about JPMorgan's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
The disclosure gap is now workforce, not technology
The bank has said what AI does to jobs in some units but not which units or how many people. As other banks are pressed for the same numbers, the July 2026 disclosure sets the reference point analysts will use.
02
Agents outrun the rulebook the bank itself operates under
SR 26-2 excludes agentic AI from model risk management. JPMorgan's published agent-security framework is, in effect, the governance path supervisors asked banks to build for themselves; expect it to be cited back to the industry.
03
Model concentration is a live decision
LLM Suite's design lets models be swapped, and the Hong Kong access change shows the switch is used for jurisdictional reasons, not only performance. Watch which models are approved where.
04
The revenue case is arriving before the cost case
Management's own framing moved in 2026 from savings to sales lift (private banking +20%) and coverage expansion — the metric to watch next is client coverage per banker.
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What is JPMorgan's LLM Suite?
LLM Suite is JPMorgan Chase's proprietary generative-AI platform — a portal and abstraction layer through which large language models from OpenAI, Anthropic and others are made available to employees with the bank's controls. It launched in 2024 on an opt-in basis, reached roughly 250,000 employees by late 2025, and won American Banker's Innovation of the Year award for 2025.
How much does JPMorgan spend on AI?
The bank does not break out AI spending. Its total technology budget was about $18 billion in 2025 and nearly $20 billion in 2026, according to executives quoted by McKinsey and CNBC; a multi-billion portion funds AI.
Has AI cut jobs at JPMorgan?
Yes. On the July 14, 2026 earnings call Jamie Dimon said AI had already reduced headcount by 30 to 40 percent in some of the bank's units, adding that most affected employees were offered positions elsewhere in the firm and that the bank still plans to hire.
Who leads AI at JPMorgan Chase?
Global CIO Lori Beer oversees technology. Chief data and analytics officer Teresa Heitsenrether, who built LLM Suite, retires at the end of 2026, and CTO Scot Baldry is taking on her title and the firm's overall AI program and strategy. Manoj Sindhwani runs AI/ML and data platforms and the data and AI product team, Mark Birkhead is firmwide chief data officer, Sumitra Ganesh heads AI research, Derek Waldron is chief analytics officer and Guy Halamish carries the AI mandate as COO of the commercial and investment bank.
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