JPMorgan’s Tech Chief Lori Beer Preps Leadership Team for AI Future

JPMorgan is reshaping its top tech ranks for an AI future.

This week, JPMorgan brought on Sri Shivananda to replace Andrew Lang, who’s set to retire this year, as its firmwide chief technology officer, according to a company memo viewed by Business Insider. Shivananda held the same position at PayPal and will report to Lori Beer, JPMorgan’s global chief information officer.

Earlier this year, Shivananda led the rollout of several new AI tools at PayPal, including one that predicts how customers would like to check out.

Shivananda’s arrival marks the second big tech hire for JPMorgan, which spends some $17 billion a year on technology, the last few months.

In April, Manoj Sindhwani was tapped to be the chief information officer of the Chief Data and Analytics Office. Sindhwani was hired from Amazon, where he ran teams for Amazon Alexa and other chatbot-like technologies.

The new additions to Beer’s leadership table are a sign that America’s biggest bank is placing key executives who will play a crucial role in JPMorgan’s AI future. JPMorgan Chief Executive Jamie Dimon has been vocal about the technology’s early impact on the bank’s workforce, saying “it’s going to change every job,” at a company investor day in May. The bank has been on a hiring tear to support its AI ambitions, with its team comprising of more than 2,000 AI/ML experts and data scientists, with some fetching base salaries of $275,000.

JPM has more than 400 live applications that span the bank, from fraud and marketing to the private bank and compliance, Dimon said in his annual letter to shareholders in April. In May, Dimon said JPM was on track to double the number of use cases to 800 by the end of this year. A key piece to the AI puzzle is the Data and Analytics organization, formed last June and led by Teresa Heitsenrether, JPMorgan’s firmwide chief data and analytics officer.

Business Insider mapped out key tech executives at JPMorgan who report to Beer and help her lead the bank’s massive tech org.

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