JP Morgan Chase is trying to use AI to cut his headcon.
In company Annual investor day On Monday, Marien Lake, a 56 -year -old Consumer and CEO of Community Banking, JP Morgan made a performance that it was predicted that AI Bank would allow AI Bank to reduce the employee number in the operations and account service departments by 10%. The operational division processes the statement and payment, while the account service unit manages day-to-day transactions.
Connected: JP Morgan says its AI cash flow software cut human work by about 90%
The Lake, which runs the Chase Bank and its credit card business, said that 10% was a minor estimate – the bank is most likely that the headcon will “distribute” in the cut cuts.
“I will take it to the launch and bet that we will distribute more,” the lake said, copy Commercial insiderWhen he will cut the workforce or what roles they affect, he did not disclose a time -line.
Marien Lake. Photographer: Jin Lee/Bloomberg via Getty Image
JP Morgan’s Chief Financial Officer, 52 -year -old Jeremy Barnam revealed in the same investor day program that the bank would spend less than $ 95 billion on working this year as AI makes operations more efficient. This is a drop $ 200 million In 2023 efforts to hire and $ 100 million In 2024.
“We are asking people to oppose the headcon growth where possible and extend our attention to efficiency,” Barnam said, copy, copy Bid“It is not only the amateur that is helped by these (AI) devices. It is amazing accessories, and we have high expectations for efficiency gains.”
JP Morgan’s headcon has increased in recent years, Swelling In 2020, more than 20% from 255,350 employees more than 317,000 in 2024. At the same time, the bank’s net income has doubled $ 29.13 billion A in 2020 Record-high $ 58.5 billion In 2024.
Connected: JP Morgan Chase CEO Jamie Dimon is not worried about working to AI – why is it here
Who will take over as CEO of JP Morgan?
On JP Morgan’s Investor Day, investors were eyeing the officers who could have taken the position of CEO from Jamie Dimon when he was probably retired. Within the next four years,
As The Wall Street JournalLake is a top contender for CEO spot. She started as an accountant in the bank and eventually became the Chief Financial Officer. 2013 to 2019Before being promoted in his current position.
The other two CEO expectations are allegedly co-head of JP Morgan’s Corporate and Investment Bank, Doug Patano, 59, and Troy Rohrabagh, 55.
Peto started as an investment banker in JP Morgan, eventually before becoming CEO of commercial banking 2012 to 2024Rohrbogha JP joined Morgan in 2005 As a managing director and earlier Macro was the head of markets, including the bank’s foreign currency and emerging market businesses.
Connected: JP Morgan Chase CEO Jamie shared four tips for Dimon leaders
Dimon said at the investor program on Monday that he still intends to retire as CEOs within the next four years, although he and JP Morgan have not yet announced a successor in public.
“We have told you that the board intends … to think about succession, and we must do so,” Dimon said, per. Baronal,
Dimon has led the bank since 2006JPMORGAN stocks have skyrocketed About 200% In the last five years.
JP Morgan Chase is trying to use AI to cut his headcon.
In company Annual investor day On Monday, Marien Lake, a 56 -year -old Consumer and CEO of Community Banking, JP Morgan made a performance that it was predicted that AI Bank would allow AI Bank to reduce the employee number in the operations and account service departments by 10%. The operational division processes the statement and payment, while the account service unit manages day-to-day transactions.
Connected: JP Morgan says its AI cash flow software cut human work by about 90%
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