JPMorgan Chase
One of the world's largest banks by assets, spanning investment and consumer banking.
On 24 February, JPMorgan Chase said AI had displaced staff, while committing $600m a year to retraining and linking engineer reviews to tool adoption across 65,000 staff.
Last refreshed: 22 September 2026 · Appears in 2 active topics
Is JPMorgan's $600 million retraining pledge enough when only 6% of firms are doing anything?
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JPMorgan Chase ranks among the world's largest banks by assets. It spans investment banking, consumer finance, commercial banking and asset management. That breadth makes it a lender, adviser and intermediary for households, companies and investors.
Its investment bank underwrites securities offerings, as shown by its role in an underwriting group for a major proposed listing. The bank also publishes sector research for institutional and corporate clients, including analysis of European chemicals margins. Its significance rests on combining consumer and corporate banking with capital-markets services.
JPMorgan shifts staff through automation
On 24 February, CEO Jamie Dimon said JPMorgan Chase had displaced people through AI and offered them other jobs. The bank pledged $600m each year for retraining and tied engineers’ performance reviews to AI adoption across 65,000 staff.
That leaves JPMorgan Chase as a visible test case for how a major bank handles workforce change. It has acknowledged redeployment while committing money to retraining. Its place among 12 original Glasswing partners also brought early access to a frontier model on 8 April, increasing the importance of its deployment choices.
Has JPMorgan actually laid off workers because of AI?
What is Project Glasswing and why does JPMorgan have access?
What is JPMorgan spending on AI retraining?
Why did the Fed and Treasury meet about AI and banks in April 2026?
Written with AI from Lowdown's published reporting. Not individually reviewed by an editor. Updated 22 September 2026. Editorial standards.