• JPMorgan launches internal AI tool for writing staff performance reviews
• Employees use the firm’s proprietary large language model for first-draft assistance
• Final accountability remains with staff, with no salary impact
• Part of JPMorgan’s LLM Suite, used by over 200,000 employees
• AI already supports coding, legal, and investment banking functions
• Jamie Dimon calls AI transformative across all business areas
• Bank investing $18B in technology, up to $2B on AI annually
• Move highlights Wall Street’s growing embrace of AI-driven efficiency

JPMorgan Chase is giving employees the option to use its in-house artificial intelligence system to help draft year-end performance reviews - a move that highlights how AI-generated text is becoming embedded in corporate life.

The tool allows staff at the largest U.S. bank to input prompts into its proprietary large language model and receive an initial draft for their evaluations, according to people familiar with the rollout. 

For many, the technology offers a shortcut through one of the most time-consuming administrative tasks of the year.

Employees are required to complete multiple peer and team reviews annually, and AI-generated assistance could help streamline the process. 

JPMorgan’s internal guidance encourages staff to use the tool as a starting point and to retain full responsibility for the content they submit. The tool is not to be used in making salary or compensation decisions.

The development reflects the growing trend of AI-assisted writing tools being deployed in professional settings. 

Boston Consulting Group recently found that employees who used generative AI to draft performance reviews cut their writing time by as much as 40 percent.

JPMorgan declined to comment on the new feature.

The bank’s adoption of generative AI in performance management builds on its broader push to integrate artificial intelligence across its business lines. 

In 2023, JPMorgan launched its proprietary AI platform known as LLM Suite - the bank’s secure, internal alternative to OpenAI’s ChatGPT. Within eight months, more than 200,000 staff had been onboarded, making it one of the largest corporate AI deployments on Wall Street.

The platform was developed in-house to give employees secure access to third-party AI capabilities while protecting client data and internal systems. 

Software engineers at the bank use the suite to review code, investment bankers rely on it to prepare client presentations, and the legal team employs it to review contracts and analyze documents.

Chief Executive Jamie Dimon has positioned artificial intelligence as central to JPMorgan’s long-term technology strategy. The bank plans to invest $18 billion in technology in 2025, with AI spending estimated at up to $2 billion annually. 

“It affects everything - risk, fraud, marketing, idea generation, customer service. And it’s the tip of the iceberg,” Dimon said earlier this month in an interview with Bloomberg TV.

Dimon has repeatedly said AI will “change every job,” predicting that while some positions will disappear, others will emerge. 

JPMorgan’s technology and operations teams are already experimenting with machine learning models that automate compliance monitoring, detect potential fraud, and enhance risk forecasting.

JPMorgan’s expanding use of AI mirrors a wider trend in financial services as institutions seek productivity gains and competitive advantages from automation. 

Goldman Sachs and Morgan Stanley are both testing generative AI tools for research and client engagement, while Citi has deployed AI to optimize trade settlements and credit decisions.

Still, JPMorgan’s approach reflects caution as much as ambition. The firm has restricted access to certain third-party tools, including early versions of ChatGPT, citing data-security risks. 

Its internal LLM Suite aims to strike a balance between innovation and protection, giving employees AI capability within a controlled environment.

For JPMorgan, the use of AI in performance reviews may be modest compared with its trading or compliance applications. 

But it signals a cultural shift - one where automation isn’t just reshaping markets, but the way people work and evaluate one another.