"He won't be the last executive pressed on money spent on tech and AI. The quiet concerns that started last year regarding massive AI investments are escalating into loud protests in 2026. Dimon wasn't just asking for blind faith from his shareholders. He discussed the threat posed by his peers and fintechs, and said spending on technology and AI is far more important than trying to "meet some expense target.""
"There's another fight JPMorgan isn't interested in getting into. The bank's CFO said the credit card rate cap proposed by President Donald Trump could force JPM to rethink its business entirely. It's the latest company to weigh in on Trump's proposal, and it's a biggy. JPMorgan's card services sales totalled roughly $360 billion last quarter. Opponents of Trump's pitch say capping credit card rates will backfire."
JPMorgan plans to increase expenses by roughly $9.7 billion this year compared with 2025. CEO Jamie Dimon replied "Trust me" when questioned about ROI from rising technology and AI investments, asserting that spending to counter competitors and fintechs matters more than meeting expense targets. Evident's AI index ranks JPMorgan highly on Wall Street AI maturity. Many companies face similar pressure to invest heavily in AI to avoid falling behind. JPMorgan's CFO warned that President Donald Trump's proposed credit-card rate cap could force the bank to reconsider its card business, which reported about $360 billion in card services sales last quarter. Critics say rate caps could reduce credit availability.
Read at Business Insider
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