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J.P. Morgan Stresses AI Model Selection
J.P. Morgan has directed its employees to use AI models that are appropriate for the nature of their tasks, emphasizing that relying on the latest and most expensive models is not necessary for ensuring efficiency. The CFO confirmed that processes such as report summarization do not require high-cost models. The bank has adopted a strategy of using the appropriate model for each task, with limited spending on AI capabilities during the first half of the year. It is expected that spending will increase in the second half, but at relatively low levels. This move is part of the financial institutions' efforts to manage the costs of adopting AI and achieve a balance between productivity and technical expenses.
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