Kevin Brunner, who serves as JPMorgan Chase & Co.'s global chair of investment banking and mergers and acquisitions, said artificial intelligence has progressed from speculative forecasts to concrete, scalable applications. Brunner made the remarks in an interview on Bloomberg TV during the bank’s global technology, media and communications conference in Boston.
"We’ve actually gone from hype to real execution and scaling," Brunner said, describing a shift in how companies are approaching the technology. He added that at the conference attendees are concentrating on defining long-term strategies and are beginning to put those strategies into place. "Every company here is very focused on what’s their long-term strategic narrative, and are in the early stages of doing so," he said.
Brunner linked the rise of AI implementation to changes in merger and acquisition activity. He said the technology is prompting companies to take stock of their positions in the market as they consider how best to advance. "It’s impacting every client that we have," he said. "There’s not a client that we talk to that’s not actually thinking through where they are in the landscape, what’s their long strategic narrative, and how they’re going to adapt to a changing environment."
On the topic of dealmaking conditions, Brunner said capital availability has not been a barrier to transactions. He observed that firms are continuing to pursue substantial deals as they look to reposition themselves. "We’re seeing people push forward, do deals of size, and making sure they’re actually repositioning themselves on the chessboard for the path forward," he said.
Brunner also indicated that consolidation is an expected outcome as companies adjust to shifts brought about by AI-enabled change. While noting the momentum behind deals, he framed consolidation as an inevitable part of the evolving landscape rather than a surprising development.
Context and takeaways
Brunner’s comments at the bank’s global technology, media and communications conference underline two linked trends he attributes to the spread of AI: first, a move from exploratory activity to operational deployment and scaling; second, a corresponding effect on corporate strategy and M&A behavior as firms seek to realign their market positions.
His observations suggest that companies across the technology, media and communications sectors - and clients more broadly - are revisiting long-term strategic plans in light of AI developments, while deal activity continues to be supported by available capital.