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crashteamrumble| JPMorgan executives: All new employees will receive artificial intelligence training

JPMorgan Chase is conducting artificial intelligence training for every new employeecrashteamrumble, prepare them for a technology that CEO Jamie Dimon likens will have the same impact as printing presses and steam engines.

"Everyone who comes here this year will receive timely engineering training to prepare for the future of artificial intelligence," Mary Erdoes, head of asset and wealth management at JPMorgan Chase, said at the company's Investor Day on Monday.

Erdoes said artificial intelligence helps his department in two wayscrashteamrumble: Save time and increase revenue. She said the technology could allow bankers to call up certain information about potential investments while on the phone with customers, reducing the "one-by-one search and tap" time. We also get rid of "boring work" by eliminating repetitive, rigid tasks.

crashteamrumble| JPMorgan executives: All new employees will receive artificial intelligence training

Daniel Pinto, president of JPMorgan Chase, said at the event that the company believes the emerging technology is worth between $1 billion and $1.5 billion. Artificial intelligence will have a "very, very" impact on the company's 60,000 developers and 80,000 operations and call center employees, which accounts for almost half of the company's workforce.

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