Everything we know about how biggest Wall Street banks are using AI

Wall Street is betting big on, and pouring billions into, AI, as big banks jostle to remain ahead of the technological curve.

Generative AI is impacting everything from trading floors to back offices, workflows to workplace culture.

It’s changing what it means to be a software engineer, how junior bankers stand out, and even the roles inside the C-suite.

The shift, it seems, is only just beginning.

Yet for all the proclaimed advancements, analysts continue to pepper executives with questions about returns and safety, as concerns mount across industries about whether the gargantuan spending on AI is justified.

And though harnessing the technology is table stakes at this point — JPMorgan CEO Jamie Dimon said his bank doesn’t “uniquely benefit from AI” since everyone is now using it — gradations still exist between firms’ strategies.

Here’s what we know about how Wall Street’s biggest banks are embracing AI.