JPMorgan Chase is actively implementing artificial intelligence technologies throughout its operations. The widespread adoption of AI will impact various employees in unique ways, as stated by the chief analytics officer. Derek Waldron shared with McKinsey the bank’s efforts to train engineers, data scientists, and other staff members. The largest bank in America aims for all 300,000+ employees to have a deep understanding of leveraging AI effectively. With an $18 billion technology budget, the bank has heavily invested in AI development and is now focusing on comprehensive training initiatives across the organization.

The objective is to educate employees globally on utilizing AI to benefit each individual, rather than a one-size-fits-all approach. Waldron emphasized the importance of tailored training based on different needs and applications of AI. From regular employees to top management, everyone must embrace new skills. JPMorgan introduced an internal program called “AI Made Easy” for beginners, with tens of thousands already participating. Modules have been created to teach users how to conduct thorough research using AI and maximize various datasets.

It’s not just lower-level employees who need to adapt; even managers must update their approaches as AI becomes more pervasive. Waldron predicts that CEOs and business leaders will have to adopt new strategies as technology evolves. A comprehensive strategy involving town halls, manager communications, and marketing campaigns is helping ease the transition for employees. Teaching about AI involves understanding its capabilities and formulating effective questions.

Waldron highlighted the need for software engineers to enhance their skills in building scalable AI systems, while technologists are required to develop advanced applications using agentic or gen AI. The concept of agentic AI is gaining traction in Wall Street and Silicon Valley, where semi-autonomous digital agents could independently manage end-to-end projects. Data scientists are shifting from building standard models to evaluating and enhancing ready-made models, emphasizing the more engaging aspects of their work.

Overall, JPMorgan’s approach focuses on empowering employees with the necessary knowledge and skills to innovate effectively with AI technologies.