Deniz 
Reportedly launching an in-house version of ChatGPT-style generative artificial intelligence systems able to perform the duties of a research analyst is investment banker JPMorgan Chase.
Employees of JPMorgan’s asset and wealth management business were given access to the recently introduced generative artificial intelligence tool, LLM Suite, which was mostly developed to assist with writing, idea generation, and document summarizing.
The technology was unveiled in an internal memo co-signed by Mike Urciuoli, managing director; Teresa Heitsenrether, the company’s chief data and analytics officer; and Mary Erdoes, the asset and wealth management line of business CEO of JPMorgan Chase.
Viewed by the Financial Times, the message clarified the staff: “Consider LLM Suite as a research analyst able to provide information, ideas, and recommendations on a topic.”
JP Morgan clarified that LLM Suite is a “ChatGPT-like product” able to boost “general purpose productivity” by working with other internal systems handling sensitive financial data.
FT claimed that the bank gave access to 15% (50,000 workers) of its personnel and released the LLM Suite in early 2024. JP Morgan has not formally admitted, nevertheless, the release of LLM Suite, a newly hired AI research analyst. A Blooomberg article claims that last year JPMorgan developed an artificial intelligence technique to identify possible trading signals by analyzing Federal Reserve comments and speeches.
The AI program provided analysts with the means to identify policy changes and set off a heads-up on trade signals. “Preliminary applications are encouraging,” JPMorgan economist Joseph Lupton reportedly stated. According to a recent poll of 4,010 institutional traders by JPMorgan, 61% of the respondents believe that artificial intelligence is the most powerful tool influencing trading going forward.
Most participants, scattered over 65 nations, believe that within the next three years, artificial intelligence and machine learning will become the most powerful trading tools available. Blockchain, or distributed ledger technology, and quantum computing got 7% of the votes each, while 13% of respondents gambled on a greater impact from application programming interface (API) integration.
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