JPMorgan Chase introduces AI training for all new employees to enhance efficiency and revenue generation through the automation of repetitive tasks. Industry experts highlight the increasing importance of AI collaboration in various sectors alongside essential interpersonal skills and ethical considerations.
JPMorgan Chase Initiates AI Training for New Hires
Last month, JPMorgan Chase announced that all incoming employees will receive training in artificial intelligence (AI). This initiative aims to help staff eliminate repetitive tasks and increase productivity and revenues. Mary Erdoes, CEO of the US bank’s Asset and Wealth Management business, stated that prompt engineering will be a focal skill, referring to crafting effective text prompts for AI applications.
The significance of AI in modern workplaces continues to grow, with Marc Warner, CEO of London-based Faculty, predicting global productivity enhancements worth $1.75 trillion annually by 2033. Khariton Matveev, a tech entrepreneur, emphasized the importance of workers collaborating with AI rather than being replaced by it.
A study indicates that nearly 20% of US workers could see at least 50% of their tasks influenced by AI, particularly those in professions like translation and research. Christian Rebernik, co-CEO of Tomorrow University of Applied Sciences, stressed the urgent need for AI retraining in sectors such as healthcare, climate change mitigation, and cybersecurity.
AI-specific roles, such as data-labelling, are also expected to rise in importance. Dev Nag, CEO of QueryPal, highlighted opportunities in AI across data collection, model creation, and application feedback. He noted the critical value of domain experts throughout these processes.
To adapt effectively, workers will need skills beyond the technical. James Longster from Travers Smith illustrated that deep sector knowledge enhances AI prompt creation. Nag underlined the necessity for financial advisers to maintain client trust while using AI. Additionally, interpersonal skills and ethics play a vital role, as noted by Rebernik and Erik Brynjolfsson, a Stanford University professor specializing in AI.
Brynjolfsson pointed out the rapid obsolescence of certain skills, indicating that prompt engineering may soon be outpaced by AI’s ability to generate its own prompts.
