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

Big Wall Street banks are heavily investing billions in AI, leveraging generative AI across departments from trading floors to back offices. JPMorgan Chase, for example, is rolling out a proprietary genAI platform to over 200,000 employees, establishing nearly 1,000 use cases from fraud protection to marketing. Despite these advancements, analysts continue to scrutinize the massive spending on AI and question if the returns are justified.