JPMorgan Chase now considers spending on artificial intelligence to be an investment in core infrastructure rather than an optional innovation cost. CEO Jamie Dimon emphasises that cutting back on AI investment poses a greater risk of falling behind competitors than increasing technology spending. He now considers AI to be as fundamental as payment systems and data centres.
The bank is increasingly integrating AI into everyday internal processes to improve efficiency, risk analysis and decision-making. However, human control will be maintained. High initial costs are seen as a safeguard against future disadvantages. This approach reflects the pressure in the financial industry to use AI for fraud detection, compliance, reporting and customer services and not to fall behind.