{"id":100288,"date":"2026-02-23T21:18:49","date_gmt":"2026-02-24T00:18:49","guid":{"rendered":"https:\/\/tech.einnews.com\/article\/894920393"},"modified":"2026-02-23T21:18:49","modified_gmt":"2026-02-24T00:18:49","slug":"jpmorgan-will-spend-almost-20-billion-on-technology-this-year","status":"publish","type":"post","link":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/2026\/02\/23\/jpmorgan-will-spend-almost-20-billion-on-technology-this-year\/","title":{"rendered":"JPMorgan will spend almost $20 billion on technology this year"},"content":{"rendered":"<section class=\"post-page-grid\">\n<section id=\"post-body\" class=\"post-body grid-area-post-body\" data-component-type=\"post-body\" data-load-strategy=\"exclude\" data-lock-content>\n<div class=\"post-hero\" data-component-type=\"post-hero\" data-load-strategy=\"exclude\">\n<figure class=\"figure image-figure-image as-notched\" data-type=\"img\" data-e2e-name=\"image-figure-image\" data-media-container=\"image\">\n<div class=\"aspect-ratio\" style=\"padding-top: calc(100% \/ (800 \/ 533))\">  <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1&w=1600&resize=1600&ssl=1 1600w\" fifu-data-src=\"https:\/\/i0.wp.com\/i.insider.com\/699ce382efb52c8bd0deb95d?width=700&ssl=1\" alt=\"Jamie Dimon\"> <\/div>\n<p> <span class=\"image-source-caption with-caption-drawer\"> <span class=\"image-source-caption-drawer\"><figcaption class=\"image-caption label-md-strong\" data-e2e-name=\"image-caption\"> <span class=\"image-caption-text\">Dimon said tech ROI is uniquely hard to measure.<\/span> <span class=\"image-source-text\"> <span class=\"image-source label-md g-test\" data-e2e-name=\"image-source\">Eduardo Munoz\/Reuters<\/span> <\/span> <\/figcaption><\/span> <\/span><\/figure>\n<\/p><\/div>\n<div class=\"underline\">\n<div class=\"timestamp label-md\" data-component-type=\"timestamp\" data-load-strategy=\"exclude\"> <\/div>\n<\/p><\/div>\n<div class=\"post-summary-bullets\" data-component-type=\"post-summary-bullets\" data-load-strategy=\"exclude\" data-track-marfeel=\"post-summary-bullets\">\n<ul>\n<li class=\"body-md\">JPMorgan plans to boost its tech budget by around $2 billion in 2026, to $19.8 billion.<\/li>\n<li class=\"body-md\">Most of the increase comes from investments, including in some AI projects.<\/li>\n<li class=\"body-md\">Execs didn&#8217;t give specific ROI metrics when pressed, with Dimon saying tech is uniquely hard to measure.<\/li>\n<\/ul><\/div>\n<section class=\"post-body-content post-story-body-content\" data-component-type=\"post-body-content\" data-load-strategy=\"exclude\" data-track-content data-post-type=\"story\" data-track-marfeel=\"post-body-content\">\n<p>JPMorgan plans to boost its technology budget by almost $2 billion this year, to $19.8 billion \u2014 a roughly 10% increase compared to 2025.<\/p>\n<p>Speaking at the firm&#8217;s 2026 company update on Monday, CFO Jeremy Barnum said &#8220;technology remains a major driver of our expense growth,&#8221; which is up around $9 billion for the year. The bulk of the <a target=\"_self\" class href=\"https:\/\/www.businessinsider.com\/jpmorgan-how-artificial-intelligence-transforming-workflows-efficiencies-2025-5\" data-track-click=\"{&quot;element_name&quot;:&quot;body_link&quot;,&quot;event&quot;:&quot;tout_click&quot;,&quot;index&quot;:&quot;bi_value_unassigned&quot;,&quot;product_field&quot;:&quot;bi_value_unassigned&quot;}\" rel>tech expenses <\/a>comes from $1.2 billion in investments, including some AI-related projects. <\/p>\n<p>Later in the presentation, CEO Jamie Dimon said that returns on AI are difficult to quantify initiative by initiative. Answering a question from Wells Fargo analyst Mike Mayo, who pressed him on the <a target=\"_self\" class href=\"https:\/\/www.businessinsider.com\/jamie-dimon-defend-jpmorgan-tech-spending-ai-2026-1\" data-track-click=\"{&quot;element_name&quot;:&quot;body_link&quot;,&quot;event&quot;:&quot;tout_click&quot;,&quot;index&quot;:&quot;bi_value_unassigned&quot;,&quot;product_field&quot;:&quot;bi_value_unassigned&quot;}\" rel>bank&#8217;s technology spend<\/a> on a recent earnings call, Dimon said that time saved is often &#8220;too vague&#8221; to measure concretely.<\/p>\n<p>&#8220;I think the hardest thing to measure has always been tech projects,&#8221; Dimon said. &#8220;That&#8217;s been true my whole life.&#8221;<\/p>\n<p>When it comes to where the firm is investing, Barnum said it&#8217;s focusing on &#8220;the highest impact areas,&#8221; such as customer service in call centers, personalized insights for clients, and technology for software engineers. GenAI is, Barnum told investors, growing as a proportion of the bank&#8217;s AI usage.<\/p>\n<div class=\"dynamic-module\" data-component-type=\"dynamic-module\" data-load-strategy=\"lazy\" data-root-margin=\"200% 0px\">\n<div class=\"dynamic-module-components\" data-component-name=\"newsletter-dynamic\" data-component-segment=\"anonymous-other\">\n<div class=\"newsletter-dynamic\" aria-expanded=\"true\" aria-hidden=\"false\" data-track-view=\"{&quot;element_name&quot;:&quot;inline_newsletter&quot;,&quot;product_field&quot;:&quot;bi_value_unassigned&quot;,&quot;subscription_experience&quot;:&quot;bi_value_unassigned&quot;}\" data-component-type=\"newsletter-dynamic\" data-load-strategy=\"exclude\" data-element-name=\"inline_newsletter\" data-source=\"financeverticalinline\" data-skeleton-name=\"generic-tout\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<figure class=\"figure image-figure-image \" data-type=\"img\" data-e2e-name=\"image-figure-image\" data-media-container=\"image\">\n<div class=\"lazy-holder \" style=\"padding-top: calc(100% * 1048 \/ 1858)\">  <img data-opt-id=758893364  fetchpriority=\"high\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1&w=1600&resize=1600&ssl=1 1600w\" class=\"lazy-image \" data-content-type=\"image\/png\" fifu-data-src=\"https:\/\/i3.wp.com\/i.insider.com\/699ce28c2237a6a8f0cdb3ef?ssl=1\" alt=\"JPMorgan Company Update\"> <\/div>\n<p> <span class=\"image-source-caption \"><figcaption class=\"image-caption headline-semibold\" data-e2e-name=\"image-caption\"> A slide from the company update presentation breaks down technology spending. <span class=\"image-source headline-regular\" data-e2e-name=\"image-source\"> JPMorgan <\/span> <\/figcaption><\/span> <\/figure>\n<p>Some of the $2 billion increase is due to inflation hitting everyone, including higher AI hardware costs. Technology head count growth isn&#8217;t a major driver \u2014 Barnum said the bank has budgeted in some additional head count in the area to work on new products, but that the culture generally discourages hiring more people whenever a new opportunity arises. <\/p>\n<p>Despite JPMorgan&#8217;s status as a tech-forward firm \u2014 and No. 1 ranking on <a target=\"_self\" class href=\"https:\/\/www.businessinsider.com\/evident-ai-alexandra-mousavizadeh-banks-wall-street-2026-2\" data-track-click=\"{&quot;element_name&quot;:&quot;body_link&quot;,&quot;event&quot;:&quot;tout_click&quot;,&quot;index&quot;:&quot;bi_value_unassigned&quot;,&quot;product_field&quot;:&quot;bi_value_unassigned&quot;}\" rel>Evident AI&#8217;s index <\/a>of AI maturity at banks \u2014 executives didn&#8217;t brush off competition. Marianne Lake, in response to an earlier question from Mayo, said the bank has some strategic assets, including in data.<\/p>\n<p>&#8220;Only the paranoid survive,&#8221; Lake, the CEO of consumer and community banking, said. &#8220;We aren&#8217;t walking around thinking we have the divine right to success, we are walking around thinking about how to optimize the value that we give to our customers, how to perfect our processes and our systems.&#8221;<\/p>\n<p>JPMorgan isn&#8217;t the only bank spending big on technology. Its rivals are also&nbsp;rapidly integrating AI&nbsp;throughout trading floors, back offices, and more to create efficiencies and improve customer experiences. <a target=\"_self\" class href=\"https:\/\/www.businessinsider.com\/wall-street-banks-ai-strategy-jpmorgan-goldman-citi-bofa-2025\" data-track-click=\"{&quot;element_name&quot;:&quot;body_link&quot;,&quot;event&quot;:&quot;tout_click&quot;,&quot;index&quot;:&quot;bi_value_unassigned&quot;,&quot;product_field&quot;:&quot;bi_value_unassigned&quot;}\" rel>Bank of America said<\/a> it plans to spend around $14 billion on technology this year. <\/p>\n<p>Dimon has previously asked investors to &#8220;trust him&#8221; on his bank&#8217;s spending, saying he is trying to keep the company from falling behind during its January earnings call.<\/p>\n<p>&#8220;We need to have the best tech in the world,&#8221; he continued. &#8220;That drives investment, it drives margin, it drives competition.&#8221;<\/p>\n<\/section>\n<\/section>\n<p> <!-- Included desktop \"post-aside\" --> <\/p>\n<section class=\"post-aside grid-area-post-aside\" data-component-type=\"post-aside\" data-load-strategy=\"exclude\">\n<aside class=\"rail with-default-image has-video-ad \" id=\"l-rightrail\" data-component-type=\"rail\">\n<section data-rail data-track-page-area=\"RR\" class>\n<div class=\"rail-container container-0\"> <\/div>\n<div class=\"rail-container video-ad-container\">\n<div class=\"post-recommended-video\" data-component-type=\"post-recommended-video\" data-load-strategy=\"exclude\">\n<h3 class=\"header display-xs\">Recommended video<\/h3>\n<div id=\"jw-strategy-player\" class=\"ad psuedo-ad\" data-bi-ad>\n<div id=\"player-container-XqOVG7Ek\" data-component-type=\"jw-strategy-video\" data-placement=\"XqOVG7Ek\" class=\"jw-strategy-video\" data-rid=\"6035255895\" data-id=\"rDToh8Ou\" data-name=\"undefined\" data-title=\"CMO Carla Hassan shares how JPMorgan Chase is leaning into AI for business growth\" data-timestamp=\"undefined\" data-autoplay=\"true\" data-mute=\"true\" data-pub-id=\"5046\" data-slot-id=\"video-preroll-1\" data-player-url=\"https:\/\/cdn.jwplayer.com\/libraries\/P0a1LFN5.js\" data-region=\"pre-roll-rail\" data-ad-unit-path=\"4442842\/businessinsider.desktop\/post\/pre-roll-rail\/finance\" data-pre-roll=\"true\" data-is-override=\"true\" data-thumbnail=\"[object Object]\" data-placementid=\"XqOVG7Ek\" data-reactions=\"undefined\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"rail-container\"> <\/div>\n<\/section>\n<\/aside>\n<\/section>\n<section class=\"post-bottom grid-area-post-bottom\" data-component-type=\"post-bottom\" data-load-strategy=\"exclude\" data-track-marfeel=\"post-bottom\">\n<section class=\"post-bottom-taboola\" data-track-page-area=\"Post Bottom\"> <!-- Included desktop \"taboola\" -->  <\/p>\n<section class=\"taboola-container targeted-recommended only-desktop taboola-below-main-column\" id=\"taboola-below-main-column\" data-e2e-name=\"taboola-below-main-column\" data-track-event-label=\"rec-taboola-taboola-below-main-column\"> <\/section>\n<p>  <!-- Excluded mobile \"taboola\" --><\/section>\n<\/section>\n<\/section>\n<div class=\"pw-modal-entry\"><\/div>\n<div class=\"pw-modal-backdrop\"><\/div>\n<div data-component-type=\"paywall\" data-load-strategy=\"exclude\" data-content-selector=\"[data-content-container]\"> <\/div>\n<div class=\"col-12\"> <\/div>\n<p>  .component.back-to-home.style-loading { display: none; }  <\/p>\n<p><strong><a href=\"https:\/\/blockads.fivefilters.org\"> <\/a><\/strong> <a href=\"https:\/\/blockads.fivefilters.org\/acceptable.html\"> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8230; year. The bulk of the <span class=\"match\">tech<\/span> expenses comes from $1.2 &#8230; to measure has always been <span class=\"match\">tech<\/span> projects,&quot; Dimon said. &#8230; , personalized insights for clients, and <span class=\"match\">technology<\/span> for software engineers. GenAI is &#8230; need to have the best <span class=\"match\">tech<\/span> in the world,&quot; he &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-100288","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/100288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=100288"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/100288\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=100288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=100288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=100288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}