JP Morgan is trying to use the Chase AI to reduce its head count.
In the company Annual Investor’s Day On Monday, JP Morgan’s consumer and CEO of community banking, 56 -year -old Marian Lake, predicted that the AI ​​bank would allow the AI ​​bank to reduce the number of employees in the departments of operations and account services. The operations division takes action on statements and payments, while the Account Services Unit manages daily transactions.
Related: JP Morgan says its AI Cash Flow Software has reduced human work by about 90 %
Lake the Chase Bank and its credit card business said that 10 % had a slight estimate – the bank would most likely provide “more” in head county reduction.
“I will eliminate this projection and bet we will provide more.” Business Internal. It did not show any timeline for it when the workforce decreases or which role will be affected.
Marian Lake. Photographer: Getty Images by Jin Lee/Bloomberg
Jeremy Burnum, the Chief Financial Officer of JP Morgan, 52, revealed in the same investor day event that the bank would spend less than $ 95 billion on hiring this year as AI makes the operation more effective. This is a drop million 200 million In seeking services in 2023 and million 100 million In 2024.
“We are asking people to resist the development of wherever possible and increase our focus on performance,” said Bernam. Bi. “These are not just the amaters who are helped with these (AI) tools. These are amazing things, and we have high hopes for performance.”
In recent years, JP Morgan’s headquarters has grown, Hundred In 2020, 255,350 employees increased from 20 % more than 2024 in 2024. At the same time, the net income of the bank has doubled .1 29.13 Billion A in 2020 A Record high 58.5 billion dollars In 2024.
Related: JP Morgan Chase’s CEO Jamie Demon is not worried about taking over jobs – why here
Who will take over as the CEO of JP Morgan?
On the occasion of JP Morgan’s Investor Day, investors were watching the executives who could take the CEO’s position from Jamie Demon when retiring. In the next four years.
According to Wall Street JournalLake CEO is a high contender for spots. He started at the bank as an accountant and eventually became the Chief Financial Officer 2013 to 2019Before its current position is developed.
The other two CEO candidates are allegedly co -headed by JP Morgan’s Corporate and Investment Bank, 59 -year -old Doug Patino and 55 -year -old Troy Rohrubh.
Patino started as an investment banker in JP Morgan before he finally became CEO of Commercial Banking 2012 to 2024. Spiritual Joined JP Morgan in 2005 As a Managing Director and earlier the head of the Macro Markets, including the bank’s foreign exchange and emerging market businesses.
Related: JP Morgan Chase CEO Jamie Demon shares four points for leaders
Demon said in an investor event on Monday that he still plans to retire as CEOs in the next four years, though he and JP Morgan have not yet announced any successor.
“What we have told you is that the board intends … thinking about succession, and we should do it,” said Damon. Barren.
Demon has led the bank Since 2006. JP Morgan’s shares have increased the sky About 200 % In the last five years.
JP Morgan is trying to use the Chase AI to reduce its head count.
In the company Annual Investor’s Day On Monday, JP Morgan’s consumer and CEO of community banking, 56 -year -old Marian Lake, predicted that the AI ​​bank would allow the AI ​​bank to reduce the number of employees in the departments of operations and account services. The operations division takes action on statements and payments, while the Account Services Unit manages daily transactions.
Related: JP Morgan says its AI Cash Flow Software has reduced human work by about 90 %
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