As the number of artificial intelligence tools available to the financial industry continues to increase, J.P. Morgan is trying to make more strategic decisions about when to use more mature and more expensive models. “To sum up an analyst report, there's really no need for the latest, cutting-edge, and extremely expensive model,” J.P. Morgan's chief financial officer Jeremy Barnum said in an analyst call Tuesday after the company released its second-quarter results. “So the idea is to use the right model for the right use.”

As the number of artificial intelligence tools available to the financial industry continues to increase, J.P. Morgan is trying to make more strategic decisions about when to use more mature and more expensive models. “To sum up an analyst report, there's really no need for the latest, cutting-edge, and extremely expensive model,” J.P. Morgan's chief financial officer Jeremy Barnum said in an analyst call Tuesday after the company released its second-quarter results. “So the idea is to use the right model for the right use.”