Banking giant JPMorgan advertised more than 3,600 AI-related jobs, report says, as Wall Street starts to embrace the revolutionary tech

  • JPMorgan is leading the way in Wall Street’s shift to AI, Bloomberg reported.
  • Data from Evident shows it advertised 3,651 AI-related jobs in three months.
  • Insider understands the bank recently filed a patent application for its own AI software.

JPMorgan is leading the way in Wall Street’s shift towards AI, according to data reported by Bloomberg.

The bank advertised 3,651 jobs globally from February through April with roles related to AI, per Bloomberg.

The data comes from the consultancy Evident, with AI-related hires defined as data engineers and quants, as well as ethics and governance roles.

JPMorgan’s job adverts are nearly double that of its closest competitor, Citigroup, which advertised around 2,100 AI-related roles across the same time period, Bloomberg reported.

Only Deutsche Bank and BNP Paribas also advertised more than 1,000 AI-related jobs, according to the report.

And the data reportedly shows that at the most enthusiastic banks, 40% of all open roles are related to the booming technology.

It comes after JPMorgan filed a patent application for an AI software called IndexGPT, as CNBC first reported.

Insider understands that the technology would help equities traders choose securities, but that it is still very early in development. 

Goldman Sachs and Morgan Stanley have also been experimenting with generative AI, with the former using it to generate code and the latter for financial advice, according to CNBC.

On Wednesday, BlackRock CEO Larry Fink said the world’s largest asset manager is spending a “huge amount of time on AI” as it expects it to boost productivity 30%, Insider’s Rebecca Ungarino reported.

According to a Goldman Sachs report from March, generative AI could expose 300 million jobs around the world to becoming automated.

JPMorgan declined to comment when contacted by Insider.