The president of jpmorgan: The integration of traditional ai and large language models will significantly enhance productivity.
November 19th of Grasp News｜JPMorgan Chase President and Chief Operation Officer Daniel Pinto stated that artificial intelligence (AI) has been developed for 10 years, bringing about $1.3 billion in actual financial impact to the group last year, including cost reduction or income increase. It is expected that this year the impact will further increase to $2 billion. Although AI's impact accounts for only slightly over 1% of JPMorgan Chase's revenue of over $170 billion, AI development is still in its early stages. Pinto believes that the integration of traditional artificial intelligence with large-scale language models will significantly enhance productivity. Pinto made these remarks while attending the International Financial Leaders Investment Summit in Hong Kong.
The central parity rate of RMB against the US dollar is reported at 7.1911 yuan, down 4 basis points.
On November 19, the renminbi's central parity rate against the US dollar was reported at 7.1911 yuan, down 4 basis points. Nomura expects the Fed to pause rate cuts in December and only cut rates twice next year. Nomura Securities analyst recently stated that the Fed is expected to pause rate cuts at the December policy meeting, making it the first global brokerage to suggest a pause in rate cuts after Trump's reelection. Nomura Securities currently predicts that the Fed will only cut rates twice next year at the March and June meetings, by 25 basis points each time. The brokerage keeps its forecast for the Federal Funds Rate unchanged at 4.125% before next year.
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