Kevin Gaugler’s Post

The skills mentioned by George Lee, the co-head of applied innovation at Goldman Sachs, are the skills students develop when they study the liberal arts: "Some of the skills that are really salient to cooperate with this new of intelligence in the world are critical thinking, understanding logic and rhetoric, the ability to be creative. AI will allow non-technical people to accomplish a lot more — and, by the way, begin to perform what were formerly believed to be technical tasks."  #liberalarts #humanskills #durableskills #futureofwork #employability https://lnkd.in/gU_dPFK2

Decade of Determination: Embracing AI Today Decides Tomorrow's Business Titans As Jamie Dimon of JPMorgan Chase & Co. rightly underscores the significance of AI, McKinsey & Company’s research bolsters this with quantifiable impacts. They pinpoint that just 63 generative AI use cases have the potential to add up to $4.4 trillion in value to the global economy. Remarkably, 75% of this value is expected to arise from customer operations, marketing and sales, software engineering, and R&D. Moreover, the potential for AI to automate 60 to 70% of tasks could redefine productivity, forecasting an increase in labor productivity by 0.1 to 0.6% annually through 2040. In this transformative era, the winners will be those who anticipate and act upon the potential of AI to revolutionize every facet of business. Dimon’s creation of a Chief Data & Analytics Officer role at JP Morgan Chase is a move that echoes McKinsey's findings, preparing the company to navigate and capitalize on these shifts. Is your organization ready to inject AI into its DNA? If you are, act fast before your competitors take an unsurmoutable lead. #ArtificialIntelligence #JPMorganChase #BusinessTransformation #EconomicImpact #McKinsey #JamieDimon #digitaltransformation

Well, the title is a bit of clickbait but the observations on especially how companies like Morgan Stanley, JPMC, UBS, Citigroup, HSBC, Barclays, etc are using AI are happening and shouldn't be a surprise to anyone. So the logical question emerges, if these companies can adopt a technology like AI to do many of the tasks a human can do faster and sometimes even better, what would the humans do? There are many things AI can't do especially when it comes to managing human relationships and interactions but then are all of us able or interested in doing this. All though we have innumerable social media platforms, our ability to interact directly with people around us is on a decline. We prefer doing that more through screens and that makes us susceptible to being displaced in a way.

I recently came across an intriguing article by Goldman Sachs questioning the efficacy of Generative AI. According to the report, the giant investment bank argues that the US$1 trillion bet on generative AI might not yield the expected returns, projecting a mere 0.9% increase in the U.S.'GDP growth over the next decade. The technology, as per Goldman Sachs, falls short in addressing complex issues that justify its cost, excelling more in simple tasks like writing cover letters rather than profitable endeavors like automating advanced code. The uncertainty surrounding the impact of AI is vividly portrayed by the conflicting viewpoints in the tech industry. As tech investing remains a challenging domain, the true potential of generative AI is yet to be fully realized. While some believe in its transformative power, the skepticism raised by Goldman Sachs sheds light on the unpredictability of technological advancements and their economic implications. In a landscape where predictions are varied and outcomes uncertain, the future role of AI in reshaping industries remains a subject of speculation and debate. #AI #GenerativeAI #GoldmanSachs #TechInvesting #EconomicGrowth #TechnologyImpact

JP Morgan's CEO Jamie Dimon all in on AI 🤖 🏦 💡 In the latest buzz from the finance and tech world, JPMorgan Chase & Co.'s CEO Jamie Dimon has made some noteworthy remarks on artificial intelligence (AI) in his annual CEO letter. Let's dive into the key highlights: ➡ AI at JPMorgan: The banking giant now boasts over 2,000 AI/machine learning experts and data scientists. With more than 400 AI use cases identified across various domains like marketing, fraud prevention, and risk management, JPMorgan is deeply invested in harnessing AI's potential. ➡ Generative AI: A particular focus is on generative AI, which is being explored for software engineering, customer service, and enhancing employee productivity. ➡ Job Impact: While acknowledging that AI may lead to a reduction in certain job categories, Dimon emphasizes the importance of talent retraining. The goal is to augment virtually every job and potentially create new roles. ➡ AI Risks: The letter also highlights the need to keep AI risks front and center, ensuring responsible and ethical use of the technology. 💸 On the broader AI landscape, there's notable movement on the infrastructure front. The US government is actively investing in AI, as seen in the recent $11.6 billion grant and loan package to TSMC for building a state-of-the-art factory in Phoenix, Arizona. This facility will focus on next-generation 2-nanometer process technology, crucial for AI and military technologies. 🔛 Canada is also stepping up its game with a $1.8 billion package to bolster its AI sector, signaling a global recognition of AI's transformative potential. In his letter, Dimon draws parallels between AI and historic technological breakthroughs like the printing press and electricity, underscoring AI's potential to revolutionize society and business. ✅ As we navigate this AI-driven era, it's clear that the implications for the workforce, industry, and global economy are profound. Stay tuned for more updates and insights on this evolving AI landscape. #aiweeklynews #Fsi #jpmorgan #jamiedimon #FutureofAI

AI is not coming; it's already here. 💡Jamie Dimon, CEO of JPMorgan Chase, just underscored the seismic shift AI brings to finance and beyond — "This is not hype. This is real." Let’s unpack what that means for us in the trenches. While sipping coffee this morning, think about this: one of the world’s leading banking figures has laid down a marker on AI's role in our professional futures. 🌍💼 Where do we stand? Here’s the deal - AI in finance isn't just about crunching numbers at lightning speed or predicting market trends anymore. We're talking about a fundamental reimagining of how businesses operate, strategize, and compete. Imagine having insights at your fingertips that could reshape your investment strategy overnight. It begs an existential question: Are we equipped to pivot swiftly with these advancements? The playbook is being rewritten as we speak. The genuineness resonates through Jamie Dimon's assertion at J.P Morgan’s 2024 Global Emerging Markets Corporate Conference — amidst revolutionizing job roles, enhancing efficiency, and ushering unparalleled growth opportunities. Will robots eventually replace us? Unlikely! It's more nuanced. While automation takes over rudimentary tasks, humans will navigate complex decision-making processes powered by superior intelligence—ours augmented by machines'. To thrive post-AI adoption entails constant learning and adaptability; humility to backpedal when necessary while navigating ethical considerations integral to deploying robust technologies responsibly. Consider this – technology amplifies human capability but doesn't render human intelligence redundant; rather refines it. Your call—to champion change or observe from the sidelines? The red pill reveals an inevitable journey towards innovation; whether you join depends heavily on embracing new paradigms pre-emptively. Can organizations afford complacency while others pioneer forward embedding AI into their CORE philosophy? Where does your allegiance lie in this impending technical renaissance? Let's open up morphed horizons together. Your thoughts? #AI #Finance #Innovation #JPMorgan #FutureOfWork

Early AI Adopters Are Set to Lead – Follow J.P. Morgan’s Bold Move and Transform Your Industry! J.P. Morgan has rolled out its proprietary AI chatbot, LLM Suite, to 50,000 employees, revolutionizing the way asset and wealth division tasks are handled. According to an internal memo seen by the Financial Times, this AI can assist with writing, idea generation, and document summarization. It’s like having a research analyst at your fingertips, providing information, solutions, and advice on various topics. Here are some key points: Tech Investment: J.P. Morgan is spending around $17 billion on technology this year, with 2,000 AI/ML experts and data scientists on board. CEO Insights: Jamie Dimon emphasized the comprehensive integration of AI across processes like errors, trading, hedging, and research. Industry Trends: Following suit, Morgan Stanley has also introduced its own AI assistant, "Debrief," for wealth advisors. The move highlights the growing importance of AI in finance, with top Wall Street firms heavily investing in these technologies to stay ahead. 💡 Artificial Intelligence meets Finance – The future is here! photo - https://lnkd.in/euzyF_HQ 🔗 Read more on ThinkAdvisor, Verdict #AI #Finance #JPMorgan #Innovation #ArtificialIntelligence #WealthManagement #TechnologyInFinance

"If you give them tools that allow them to expand their capacity to focus on things that are valuable for our clients, they can actually take on more." "During a recent interview on CNBC's #SquawkOnTheStreet, Goldman Sachs CEO David Solomon underscored the transformative power of AI, stating that it enables us to 'do more, do more quickly, and help our clients think about things in different ways...' Too much data changes too quickly for the status quo to be adequate, so the call is to let the right tools and technology be the catalyst for better ways of working and better outcomes. Let me know if you'd like to see how that might work for you with #AIDrivenRiskManagement from Interos Inc.

J.P. Morgan is set to transform its research capabilities through the launch of the LLM Suite—an advanced generative AI tool now being rolled out to 50,000 employees in the bank's asset and wealth management division. This new AI technology is designed to enhance efficiency by assisting with writing tasks, idea generation, and document summarization. This move is part of JPMorgan’s broader strategy to integrate AI into its operations, aligning with a growing trend in the financial sector. Similar initiatives are being seen across the industry, with firms like Morgan Stanley also adopting AI-driven solutions. 📈💡 #JPMorgan #GenAI #ArtificialIntelligence #Innovation #FinancialServices #TechTrends

Imagine if AI could take over the workload of a top-tier research analyst—how much more could you achieve by dedicating your time to building deeper, high-impact client relationships? JPMorgan Chase's LLM Suite and Morgan Stanley's AI tools are just the beginning of a revolution in wealth management. From automating manual tasks like note-taking and data analysis to offering personalized financial insights, AI is transforming the way we do business. The benefits are undeniable: ✅ Increased efficiency—AI handles the tedious, allowing you to focus on what truly matters. ✅ Enhanced personalization—AI analyzes client behaviors and risk profiles to offer tailored advice. ✅ Better investment outcomes—Studies show AI-powered funds outperform human-managed ones by a significant margin. I see this as more than just a trend. This is the future—where AI doesn't replace us, but elevates us. Those who embrace this shift will not only survive but thrive in a rapidly evolving financial landscape. Are you ready to let AI amplify your success? #AIRevolution #WealthManagement #TechInnovation