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Wall Street bank leaders say generative AI is here to stay, and they're weaving the technology throughout the fabric of their banks to make sure.
From trading to payments to marketing, it's hard to find a corner of the banking industry that isn't claiming to use AI.
In fact, the technology's impact, made mainstream by OpenAI's ChatGPT in late 2022, is becoming cultural. Generative AI is changing what it takes to be a software developer and how to stand out as a junior banker, especially as banks mull over how to roll out autonomous AI agents. The technology is even changing roles in the c-suite. But it's also presented new challenges — bank leaders say they are struggling to keep up with AI-powered cyberattacks.
From supercharging productivity via AI-boosted search engines to figuring out the best way banks can realize a return on their AI investments, here's what we know about how Wall Street banks are embracing AI.
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JPMorgan CEO Jamie Dimon is a "tremendous" user of the bank's generative AI suite. We have the story of how he and other bank executives use AI.
Dimon also laid out his vision for how America's largest bank will win the AI battle against fintechs through data. Meet the leaders of that mission.
Mary Erdoes, the boss of JPM's asset- and wealth-management business, used these slides to outline how she wants to get her people ready for the "AI of the future."
It's not just JPMorgan's in-house tech teams that have been gearing up for an AI future. Cloud partners, like AWS, also play an important role.
Michael Kovac
Is Goldman in its AI era? These real-world stories about employees using AI (in some cases daily) make it seem so. Take a look at how AI is being put to the test across the bank and seniority levels, from C-suites to analysts.
Goldman's top partners and CEO David Solomon are eager to see AI rev up their businesses. From realizing internal productivity gains to capturing more business as clients look to raise money in anticipation of AI development and acquisitions, here's what the top echelon is expecting.
There is no AI without data, and there is no data strategy at Goldman without its chief data officer, Neema Raphael. Raphael gave BI an inside look at how his roughly 500-person team melds with the rest of the bank to get the most out of its data.
AI's impact has ripple effects that go far beyond technology. Goldman's chief information officer, Marco Argenti, predicts that cultural change will be critical to getting the bank to 100% adoption.
Many dollars are being spent on Wall Street's AI ambitions. But how do you measure the return on the investment? Argenti offers some tips on the calculus that can help firms prioritize where to invest.
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Morgan Stanley wants to turn employees' AI ideas into a reality. Here's an exclusive look at that process.
See how AI is transforming Morgan Stanley's wealth division and the jobs of its 16,000 financial advisors.
Thanks to its partnership with ChatGPT-maker OpenAI, Morgan Stanley has ramped up its AI efforts. The exec in charge of tech partnerships and firmwide innovation opened up about how it all started.
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Meet the new exec in charge of giving an AI facelift to Citi's lagging wealth business.
Citi's top tech executive, Shadman Zafar, outlined the bank's four-phased AI strategy and how it will "change how we work for decades to come."
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Bank of America's chief experience officer, Rob Pascal, details how the bank's internal-facing AI assistant helps bankers collect, record, and review client data. Here are all the ways it's helping employees be more effective and efficient.
Momo Takahashi/BI
Investment bankers are hopeful that corporate America's obsession with AI could kick off a new era of mergers, acquisitions, and IPOs. From execs stepping into recently created roles to accommodate the sector to industry veterans launching their own AI-focused M&A-advisory firm, meet 11 investment bankers poised to lead Wall Street's AI revolution.
We spoke with four of those AI bankers about why 2025 is going to be all about AI pickaxes and shovels rather than pure-play AI deals.
AI could save junior bankers time by automating tedious tasks known all too well by Wall Street's youngest ranks. But it can also make it harder to break into the industry by shifting the skills required for entry.
A former Goldman Sachs managing director built an AI-powered networking tool to spur dealmaking. The budding startup, Louisa AI, already has a few clients, including Goldman Sachs, Insight Partners, and a global exchange.
Here's how former investment bankers left their Wall Street jobs to build an AI startup to solve junior bankers' woes.
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