Source: Caixin.
Author: Xiaoxiang. In 23, the company's overall sales volume was 18,000 kiloliters, with a YoY increase of 28.10%, showing significant growth. In terms of product structure, the operating income of products worth 10-30 billion yuan was 401/1288/60 million yuan, respectively.
According to media reports, JPMorgan has begun to roll out a generative AI product and told employees that the chatbot can now perform the work of research analysts. Product structure, 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.
According to an internal memorandum, the largest bank on Wall Street has allowed employees in its asset and wealth management divisions to use a large-scale language model called LLM Suite.
According to media reports, JPMorgan has begun to roll out a generative AI product and told its employees that the chatbot can now perform the work of a research analyst.
According to an internal memo seen by the media, the largest Wall Street bank has allowed employees in its asset and wealth management departments to use the large language model called LLM Suite.
"You can think of LLM Suite as a research analyst, which can provide information, solutions and advice on a particular topic," the memorandum said. Small Mo executives told employees that LLM Suite can help them write, generate ideas, and summarize documents.
Mary Erdoes, head of JPMorgan's asset and wealth management business, chief data and analytics officer Teresa Heitsenrether and chief information officer of the asset and wealth management department Mike Urciuoli, all signed the memo.
They describe LLM Suite as a "ChatGPT-like product" that will be used for "general productivity" to supplement other applications for processing sensitive financial information, such as Connect Coach and SpectrumGPT.
A person familiar with the matter said that JPMorgan began introducing LLM Suite into various departments of the bank earlier this year, and currently about 50,000 employees (about 15% of the total number of employees) can use LLM Suite. The company has not disclosed how many research analysts it has internally.
On Wall Street, some well-known financial institutions have previously established partnerships with some AI companies. For example, Morgan Stanley has worked with OpenAI to use the latter's related products in its wealth management business.
However, JPMorgan seems to be more committed to developing a proprietary LLM internally, as its employees are not allowed to use any consumer-grade AI chatbot products for work purposes, such as Anthropic's Claude, OpenAI's ChatGPT, or Google's Gemini. The company requires employees to strictly follow relevant regulations to ensure that customer data does not leave the company's secure servers.
It is not clear whether LLM Suite has encountered similar problems to other AI models that have been found to produce "illusions" or present incorrect ideas as facts.
JPMorgan CEO Jamie Dimon told investors earlier this year that artificial intelligence "will change every job".
Dimon compared the potential impact of AI to that of the steam engine, saying, "We fully believe that this technology will have extraordinary consequences, and its transformative power may be no less than some of the major technological inventions in the past few hundred years. Think of printing presses, steam engines, electricity, computers, and the Internet, and so on."
Editor/Feynman