JPMorganChase's Lori Beer Drives Bank's AI-Driven Innovation

Lori Beer, global chief information officer at JPMorganChase, oversees the bank's technology operations and innovation efforts. Her team manages over 7,000 applications, nearly an exabyte of data, and a $19.8 billion tech budget, which enables the company to process around $12 trillion in digital payments daily.

Beer emphasizes the importance of embedding her tech teams with business teams to drive growth. She notes that JPMorganChase is expanding its use of artificial intelligence (AI) across various areas, including AI agents that can perform tasks autonomously.

The bank's LLM Suite, an in-house large language model, has saved employees several hours of work per week and has been used to build over 200 applications. Beer is exploring the next phase of AI for JPMorganChase, focusing on specialized AI-powered agents that can perform tasks independently.

The bank's current use case for AI agents is on the back-end operations side, primarily for technical tasks like writing code and building new software programs. Coding assistant tools have reduced the coding portion of the software development lifecycle at JPMorganChase by 10% to 20%. Beer predicts that the next year will see significant conversations around maturing AI for enterprise adoption, particularly regarding AI cost concerns.