JPMorganChase at AWS re:Invent

Lori Beer returned to AWS re:Invent after four years today to give an update on her company's ambitious modernization agenda during AWS CEO Matt Garman’s keynote. At her 2020 re:Invent appearance, she described how it was migrating its infrastructure to the cloud to take advantage of modern tools for analytics and machine learning. Today, she talked about how that foundation has served JPMorganChase well and allowed it to unlock the business value of AI faster.

Beer’s appearance comes just weeks after JPMorganChase was named the leader in AI adoption for the banking sector by Evident AI Index for the third year running. According to Beer, the firm is using generative AI at scale today, providing 200,000 of its employees with an AI assistant, and working on more use cases, such as tools to help its travel agents create trip itineraries for customers and provide insights at scale for its contact center representatives.

“Our stated purpose is to make dreams possible for everyone, everywhere, every day,” said Beer. To help fulfill this purpose, JPMorganChase invests $17 billion in technology. Beer explained that it has created a cloud architecture on AWS whereby it can modernize existing business platforms, such as its award-winning consumer app, and create brand new ones, such as Fusion, a data management solution for institutional investors, in a constant cycle without impacting customers.

Beer also explored how the financial institution is increasingly embedding AI into the ways it creates and renovates platforms and how the firm has built a secure, end-to-end AI platform to support this endeavor. “With the help of AWS data management tools like [AWS] Glue, our data is discoverable, accessible, interoperable and reusable on our secure end-to-end data and AI platform,” said Beer.

JPMorganChase, like many organizations on AWS, has leveraged its existing data solutions and infrastructure investments to power its AI innovation. Beer also called out the AWS solutions it uses to simplify the model-development lifecycle: Amazon SageMaker, a fully managed service that removes the heavy lifting from each step of the machine learning process.

Amazon Bedrock provides access to a variety of foundation models from leading AI companies, such as AI21 Labs, Anthropic, Cohere, Meta, Mistral AI, Stability AI, and Amazon, through a single API. Beer mentioned how important this access to the latest models is for data scientists.

While some organizations find navigating infrastructure decisions and a constantly evolving technology landscape daunting, Beer, while agreeing it’s not for the faint of heart, appears more excited than ever and believes, “JPMorganChase is well-positioned to deliver the future of financial services.”