JPMorgan engineers’ efficiency jumps as much as 20% from using coding assistant

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 efficiency gains from the coding assistant will also allow JPMorgan's engineers to devote more time to high-value projects focusing on artificial intelligence and data, Beer said. JPMorgan's president Daniel Pinto previously said implementing AI could add about $1 billion to $1.5 billion in value for the bank.