JPMorgan credits AI coding assistant for boosting software engineers’ efficiency by up to 20%
Wall Street giant JP Morgan says it can boost productivity of its software engineers by up to 20% by using an AI coding tool.
Lori Beer, the global chief information officer, called the gains “a great opportunity” to shift engineers to other projects in remarks at a conference in India.
JPMorgan, the biggest US lender, is backing its tech push with a $17 billion budget for 2025.
Its 63,000-strong tech workforce — about a third of them in India — makes up 21% of the bank’s global headcount.
Beer said the coding tool’s efficiency will let engineers spend more time on high-value work, especially in artificial intelligence and data.