Wall Street bank among first in the sector to adopt the technology widely as global lenders reshape workforces around AI JPMorgan is implementing AI tools across its investment banking business globally, the bank’s Asia investment banking head said on Thursday, making it among the first in the sector to adopt the technology widely. “We are in the early phase adopting AI tools throughout our investment banking business globally but are excited by the developments,” Paul Uren, JPMorgan’s Asia Pacific head of investment banking, told Reuters. Global banks are increasing investment in AI, reshaping their workforces and driving changes in job roles. Earlier the same day, JPMorgan CEO Jamie Dimon told Bloomberg News that the bank would hire more AI specialists and fewer traditional bankers. The comments follow rival Standard Chartered’s move to cut nearly 8,000 staff by 2030 as it expands its use of AI. “Our AI tools enable us to access more information and quickly synthesize it with our internal systems,” Uren said, without specifying which AI tools bankers were using. “We’re finding that AI streamlines the preparation of content and materials, as well as helping bankers engage with more clients more efficiently,” he added. JPMorgan is among select organizations permitted by AI startup Anthropic to use its Mythos cybersecurity model under the company’s controlled “Project Glasswing” initiative. According to Anthropic, Mythos is capable of detecting decades-old vulnerabilities in web browsers, infrastructure and software — a capability that has raised concerns among cybersecurity experts that it could enable more sophisticated cyberattacks, posing a risk to a banking industry reliant on legacy technology. Apart from JPMorgan, Goldman Sachs, Citigroup, Bank of America and Morgan Stanley have access to, or are testing, Mythos, Reuters reported, citing sources and company…

Bank of America has launched an AI-powered meeting solution across its wealth management businesses, Merrill and Bank of America Private Bank, aimed at improving how advisors prepare for and manage client interactions. The new system, referred to as an AI-driven meeting workflow, is designed to support the full lifecycle of client engagement, including preparation, real-time note-taking, and post-meeting follow-up. The bank said the solution can help advisors save up to four hours per meeting by automating tasks such as compiling client insights, generating meeting summaries, and outlining next steps. This comes as the firm expands its broader use of artificial intelligence across internal operations and client services. The platform includes tools that consolidate client data and recent activity into meeting preparation materials, while also functioning as an AI note-taker during virtual meetings, subject to client consent. It can then generate summaries and action points to support follow-up processes. Patricio Diaz, Chief Operating Officer at Merrill, said the solution allows advisors to spend more time on strategic planning and client engagement, while Shimna Sameer, Head of Products, Solutions and Platforms at Bank of America Private Bank, noted early improvements in workflow efficiency among users. Bank of America said it continues to invest heavily in technology, allocating $13.5 billion annually, including $4 billion toward new initiatives such as artificial intelligence. The bank has been deploying AI across various functions, including its virtual assistant Erica, which has handled billions of client interactions since its launch. The firm said AI is expected to enhance advisor productivity while maintaining the role of human judgement and client relationships at the core of wealth management services. Wealth management is shifting toward AI-assisted advisory models, where automation handles execution while advisors focus on relationship-driven value. Source: Bank of…