JPMorgan Is Pouring $19.8 Billion Into Tech and AI This Year

Gotrade News - JPMorgan Chase just made it clear that artificial intelligence is no longer a side project — it's the backbone of how the bank plans to compete going forward. During a company presentation on Monday (02/23), top executives laid out how AI has already seeped into nearly every corner of the business, from credit decisions to how customers are served.

CEO Jamie Dimon struck a confident tone, saying JPMorgan will come out on top in most areas of tech-driven competition. According to PYMNTS, Dimon said the bank will deploy AI as fast as it can to deliver better outcomes for its customers.

Key Takeaways:

• JPMorgan's tech budget is set to hit roughly $19.8 billion this year, up 10% from last year, with an extra $1.2 billion earmarked for major projects
• AI is already baked into cash flow analytics, credit decisions, and agentic commerce across business lines
• U.S. consumer health looks solid, with lower-income households still holding up well according to JPMorgan's internal data

CFO Jeremy Barnum revealed that the firm's projected tech spending will land at around $19.8 billion this year. That's a 10% bump from the previous year, including an additional $1.2 billion for big-ticket projects like the Apple Card platform buildout.

AI Isn't a New Playbook for JPMorgan

Doug Petno, Co-CEO of the Commercial and Investment Bank, stressed that the bank's AI push didn't just start yesterday. Per PYMNTS, Petno noted that JPMorgan has been running a machine learning center of excellence for over a decade.

One standout area Petno highlighted was giving value straight back to clients. Think agentic commerce and sharper cash flow analytics for corporate customers.

Barnum added that the number of AI use cases in production has doubled this year alone. Machine learning and analytical AI have been quietly driving revenue gains and cost savings for years now.

Mary Callahan Erdoes, who heads the Asset and Wealth Management division, flagged that algorithmic outputs still need a human touch. Striking the right balance between automation and professional judgment remains a key priority in wealth management.

Risks Are on the Radar, but Consumers Look Steady

On the risk side, executives acknowledged that AI breakthroughs could shake up the software industry. That said, management argued that JPMorgan's exposure to that particular risk stays limited.

Troy Rohrbaugh, Co-CEO of the Commercial and Investment Bank, pointed out that the private credit space is still flush with capital and deal flow. He was quick to add, though, that JPMorgan stays disciplined and comfortable with its current risk positioning.

As for the U.S. consumer, Barnum said spending patterns across income brackets are tracking within normal historical ranges. Even lower-income consumers are proving resilient based on the bank's own data.

Barnum also guided for credit card net charge-offs of around 3.4%, in line with prior expectations. He called the labor market the single most critical factor to keep an eye on.

Marianne Lake, CEO of Consumer and Community Banking, noted that yield-chasing behavior among depositors is nothing new. What has changed is how easy it's become to move money around, which is speeding up the shift.

All in all, JPMorgan's presentation painted the picture of a bank betting big on AI as its long-term growth engine. With tech spending climbing and consumers in decent shape, the largest U.S. bank is positioning itself as the frontrunner in an AI-powered banking era.

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Reference:

• PYMNTS, JPMorgan’s Dimon Positions AI as Competitive Banking Battleground. Accessed on February 24, 2026

• Featured Image: Shutterstock