Brief news summary

JPMorgan CEO Jamie Dimon believes that AI will have a transformative impact on businesses and society, comparing its potential to major technological inventions throughout history. Some analysts have referred to AI as the "Fourth Industrial Revolution," emphasizing its significance. For JPMorgan, AI has already proven beneficial in managing its vast customer base and business lines. The introduction of consumer-friendly AI applications, like OpenAI's ChatGPT, made the technology more accessible and drove interest in the AI trade. However, as excitement settles, the AI boom is seen as more of a gradual progression rather than an immediate revolution. JPMorgan has been actively using predictive AI and machine learning for various purposes, resulting in real business value across its operations. Investors are intrigued by the future possibilities of AI rather than its current applications.