Clare: JPMorgan Chase Supports Employees with AI Software from OpenAI
JPMorgan Chase has rolled out a generative AI assistant to tens of thousands of its employees in recent weeks, the first phase of a broader plan to integrate the technology across the sprawling financial giant.
The software, called LLM Suite, is already available to more than 60,000 employees, helping them with tasks like writing emails and reports. It’s expected to eventually be as ubiquitous across the bank as video conferencing software Zoom, people familiar with the plans told CNBC.
Rather than developing its own AI models, JPMorgan designed LLM Suite to be a gateway for users to tap into large external models — the complex software that powers generative AI tools — and launched it with LLM from OpenAI, the maker of ChatGPT, according to the people.
“Ultimately, we want to be able to move seamlessly across models based on use cases,” Theresa Heitzenreither, JPMorgan’s head of data and analytics, said in an interview. “The plan is not to commit to a specific model of service providers.”
The move by JPMorgan, the largest US bank by assets, shows how quickly generative AI has spread across US businesses since ChatGPT arrived in late 2022.
Rival bank Morgan Stanley has already released a pair of OpenAI-powered tools for its financial advisers.
Tech giant Apple said in June it was integrating OpenAI’s models into the operating system of hundreds of millions of its consumer devices, significantly expanding its reach. LINK
Clare: Prime Minister’s Advisor: The government has established a roadmap for the economic model in Iraq
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, defined today, Saturday, the vision of the government’s program regarding the economic model, and while he indicated that it will direct investment decisions to achieve their goals, stressing that the government of Prime Minister Muhammad Shia Al-Sudani has established a road map for the work of the economic model in Iraq.
Saleh told the Iraqi News Agency (INA): “The economic model is a mathematical model used to represent the economy and analyze the behavior of various economic factors, as these models are used to understand how economic elements interact.”
Indicating that “at the level of the philosophy of the Iraqi government curriculum, the basics of modeling the Iraqi economy were launched from an important vision based on the principle of analyzing the entire economy, taking into account the overall variables, most notably the basics of development and growth in the gross domestic product and imposing stability and effective operation of the joints of the national economy and the level of its interconnections.”
He added that “the current digital life helps to use computing to conduct simulation experiments to understand the potential effects of various economic policies and adopt optimal paths from them,” stressing that “Iraq has established in its government curriculum a practical foundation and a roadmap for the work of the economic model for Iraq through the development path strategy, since the beginning of the government of Prime Minister Mohammed Shia al-Sudani.”
He pointed out that “the state of economic imbalance and its severe unilateralism has always required thinking about the future of the economy through an approach based on generating an alternative sector that leads the national economy.”
Explaining that “the development path program is an academic viewpoint, and what the German economic thinker Albert Hirschmann presented in his famous book (Economic Development Strategy) published in 1958, in combating the state of imbalance and economic unilateralism with a theory based on economic development weight, and a leader for the economy that provides a high degree of backward and forward sectoral interconnections and high interactivity that achieves sustainable growth and restores balance in the long term for the national economy.”
He pointed out that “this theory emphasizes in its model the need to invest in strategic sectors with a specific high priority instead of investing in all sectors at once,” adding that “according to this theory, other sectors will develop automatically over time, and from this standpoint the idea of the economic model for the future of Iraq in prosperity and diversity was born, which is undoubtedly based on a strategy for the overall economy based on the development path.”
Saleh noted that “this development strategy and the economic model that drives the macroeconomic variables, did not separate from it the vision of partnership between the state and the private sector and the principles of the social market within the data of the five-year national development plan and its objectives that were recently launched,” concluding his speech by saying that “the economic model or model for Iraq that we aspire to establish will provide the predictive foundations for evaluating economic policies and directing investment decisions to achieve their specific objectives in an optimal manner.” LINK
