JPMorgan will spend almost $20 billion on technology this year
Business Insider
February 24, 2026
AI-Generated Deep Dive Summary
JPMorgan Chase has announced a significant increase in its technology budget, boosting it by nearly $2 billion to reach approximately $19.8 billion for 2026—a roughly 10% rise compared to 2025. The majority of this increase is attributed to investments in advanced technologies, particularly artificial intelligence (AI) projects, which are expected to enhance efficiency and customer service. However, the bank's executives, including CEO Jamie Dimon, have emphasized that measuring the return on investment (ROI) for technology initiatives, especially AI, is challenging due to their long-term nature and intangible benefits like time savings.
The financial institution is prioritizing high-impact areas such as improving call center operations, delivering personalized client insights, and developing tools for software engineers. These efforts are supported by growing investments in generative AI (GenAI), which is becoming a larger proportion of the bank's overall AI spending. While inflation has also contributed to higher costs, particularly for AI hardware,
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Originally published on Business Insider on 2/24/2026