JPMorgan credits AI coding assistant for boosting software engineers’ efficiency by up to 20%

Source: New York Post

Tens of thousands of JPMorgan Chase software engineers increased their productivity 10% to 20% by using a coding assistant tool developed by the bank, its global chief information officer Lori Beer said. The gains present “a great opportunity” for the lender to assign its engineers to other projects, Beer told Reuters ahead of DevUp, an internal conference hosted by JPMorgan, bringing together its top engineers in India this year. The largest lender in the US had a technology budget of $17 billion for 2024.