JPMorgan, the world's biggest bank by market cap, has the industry's largest annual tech budget at nearly $20 billion, and it has outlined an ambitious AI plan.

JPMorgan, the world's biggest bank by market cap, has the industry's largest annual tech budget at nearly $20 billion, and it has outlined an ambitious AI plan.

Dimon backs AI at JPMorgan but also supports government action to prevent mass layoffs.

The former Twitter CEO said AI was “enabling a new way of working” as his company scales back its workforce as a result of AI productivity gains.