JPMorgan is rolling out artificial intelligence capabilities across its investment banking business worldwide, the bank's head of investment banking for Asia Pacific said on Thursday, placing the firm among early adopters in the sector to apply such tools at scale.
Paul Uren, who leads the bank's investment banking operations in the region, described the effort as being in its early phase. He said the bank is enthusiastic about developments in AI and is testing ways to use the technology to support bankers.
"We are in the early phase adopting AI tools throughout our investment banking business globally but are excited by the developments," Uren said. He did not identify specific products or providers being used by bankers, but explained the practical benefits the tools deliver.
According to Uren, the AI capabilities allow teams to access a broader set of information and quickly synthesize it without relying solely on internal systems. He added that AI has helped streamline the preparation of content and materials and enabled bankers to engage with a larger number of clients more efficiently.
Earlier on Thursday, JPMorgan's chief executive told Bloomberg News the firm planned to hire more AI specialists and fewer conventional bankers, a comment made in the context of peers shifting headcount strategies as they incorporate automation and machine learning.
JPMorgan is one of a small number of organisations permitted to use Anthropic's Mythos cybersecurity model under the controlled Project Glasswing initiative. Anthropic describes Mythos as a model capable of finding long-standing vulnerabilities in web browsers, infrastructure and software.
That capability has triggered concern among cybersecurity experts who warn it could be used to supercharge more sophisticated cyberattacks. Observers point to the risk this poses for the banking sector, particularly given its dependence on legacy technology in some areas.
Uren emphasised internal gains from AI in investment banking workstreams, highlighting efficiency in content creation and client outreach. He declined to specify which specific AI applications are in active use.
Context and scope
- JPMorgan is implementing AI across investment banking globally, with deployments described as early stage.
- The bank has access to Anthropic's Mythos model through Project Glasswing, a controlled initiative that permits limited use of the model.
- Bank executives report AI is helping synthesize information and speed preparation of client materials, while cybersecurity experts warn of potential risks tied to capabilities that can detect longstanding system vulnerabilities.