*

AI tools enhance client advisory speed amid market

volatility

*

JPMorgan's ( JPM ) AI to boost client roster by 50% in the next

three to

five years

By Nupur Anand

NEW YORK, May 5 (Reuters) - JPMorgan Chase's ( JPM )

artificial intelligence tools enabled it to boost sales to

wealthy clients and manage scores of requests from worried

customers even during April's market rout, the bank's CEO of

asset and wealth management said.

The largest U.S. lender, along with its peers has been ramping

up its use of AI. Goldman Sachs ( GS ) is rolling out a generative AI

assistant to its bankers, traders and asset managers, while

Morgan Stanley ( MS ) developed a chatbot for its financial advisers

with OpenAI.

JPMorgan's ( JPM ) AI tools have supercharged the speed at which its

bankers could provide research and investment advice to wealthy

clients last month at a time when the U.S. tariff announcements

erased trillions of dollars from the stock market.

"In the last few weeks, there have been several fluctuations

in the market which are not in normal bite sizes, making it very

complicated to think about all your clients and all the things

required to do," Mary Erdoes said. The "powerful" AI tools

helped advisors to quickly handle client requests by pulling

data on their trading patterns and anticipating queries, she

said.

In the days surrounding U.S. President Donald Trump's tariff

announcement last month, U.S. stock markets set a new record for

single-day trading volume, and posted some of the sharpest

intraday swings of the past 50 years.

The volatility prompted individual investors to call their

bankers seeking advice, Erdoes told Reuters.

"When you have a tool that pre-populates all the data and

the movement in real time, while also remembering clients' old

investment preferences and helps in tailoring a plan for them

quickly, it also allows advisors to do much more," she added.

JPMorgan's ( JPM ) so-called Coach AI tool used by private client

advisers is quicker at locating content and research to drive

conversations with clients.

"Our advisors are finding the right information up to 95%

faster--which means they spend less time searching and more time

engaging in meaningful conversations with clients," said Mike

Urciuoli, chief information officer at JPMorgan ( JPM ) asset and wealth

management.

"It's a great example of how of AI isn't replacing human

touch, it's enhancing it," Urciuoli added.

ADDING CLIENTS

The app will help advisers expand their client rosters by

50% in the next three-to-five years by enabling them to take on

more clients, with AI handling some of the other

research-related work.

JPMorgan Asset & Wealth Management also saw a 20% year-over-year

increase in gross sales between 2023-2024, with Gen AI-driven

tools which has helped teams focus more effectively on

high-impact client work, it said.

"AI has also been handling a lot of anticipatory work,

allowing advisors to be prepared for what could have otherwise

been a very stressful moment with market movements," Erdoes

said.

JPMorgan ( JPM ) had a technology budget of $17 billion last year.

The bank already has about 450 potential cases for which it

could use AI, and CEO Jamie Dimon expects those potential

applications to surge to 1,000 by next year, he said earlier

this year.

Portfolio managers in asset management are also using the

AI tools, Erdoes said.

The bank's GenAI toolkit which is now deployed on the

desktops of more than 200,000 employees, more than half of whom

use it several times a day, the bank said. The bank employs

almost 320,000 people.

"We are trying to democratize AI and put it in the hands of

more employees instead of a select group," Erdoes added.

Harvard Business School recently published a case study on

the potential of generative AI which included the tools being

used by the 4,000 advisers serving JPMorgan's ( JPM ) high-net-worth

private bank clients to study its impact on the bank's business.

The initiatives have already saved the bank nearly $1.5

billion through fraud prevention, personalization, trading,

operational efficiencies and credit decisions, JPMorgan ( JPM ) said.