From Goldman to Bridgewater, here's everything we know about how Wall Street is embracing AI

• Once ChatGPT hit the scene at the end of 2022, Wall Street ramped up its efforts in AI.
• Business Insider has reported on how some of finance's biggest names are approaching the new tech.
• See how firms from JPMorgan to Man Group are using it. 

Generative AI has had Wall Street abuzz in 2023.

Business Insider has been reporting on how some of finance's biggest players are approaching artificial intelligence, from how it might impact jobs to how to use it to cut costs and ramp up efficiencies. It might even be the sector to end the drought in dealmaking.

Experts in the space are in high demand as banks and investment giants race to understand and implement AI. However, there's a level of trepidation, and most are early in experimenting with different use cases.

Here is what we know about how Wall Street is embracing AI:

Banks accelerated their AI research and use cases due to the rise of ChatGPT

We identified 17 of the top AI executives and technologists to know at the country's biggest banks.

• How the 6 biggest US banks are thinking about AI and the 17 executives leading the strategy

JPMorgan CEO Jamie Dimon said banks can win the AI battle against fintech in an earnings call this fall. Dimon laid out his vision for how America's largest bank will win this race through data. Meet the leaders of that mission.

• Jamie Dimon says he's out to win the AI arms race. See who he's put in charge of this critical mission.

Goldman Sachs' chief investment officer and head of machine learning quants say we are at an inflection point with AI. Large language models, the form of AI behind ChatGPT, could transform how Wall Street does business. Marco Argenti and Dimitris Tsementzis outlined three areas where the bank is experimenting with LLMs.

• Inside Goldman Sachs' plans for AI, from helping non-tech workers do more with software to streamlining how code is documented

Deutsche Bank is aggressively experimenting with AI capabilities to transform the bank.

The bank is on a hiring spree, trying to more than double its AI employee base of around 300, but uncertainty around regulation, talent wars, and the cost of scaling the tech won't make it easy.

• Deutsche Bank wants to transform its business with generative AI. The German bank's tech chief lays out its strategy as it hires hundreds.

Hedge funds have been on an AI hiring tear as firms look to solidify their teams and strategies

Top AI executives at hedge funds are tasked with setting their companies' AI agendas and ensuring that research and tech development progress is shared across the firm. These execs aren't always responsible for building the technology. For some, their role is influencing—or advocating for — its use among internal stakeholders, like portfolio managers, business leaders, and fund founders.

• How 9 hedge funds, including Millennium and AQR, are thinking about AI — and the 11 experts leading the charge

Bridgewater plans to launch a fund next July that will be driven by AI. The fund's AIA Labs is working to replicate every stage of the investment process with machine learning. The firm's co-chief investment officer and chief scientist outlined the plans of the world's largest hedge fund.

• One of Bridgewater's top investors explains why the world's largest hedge fund is handing the investment process over to AI in a new fund

Man Group, the largest publicly listed hedge fund with $161.2 billion, launched a new data and machine learning group focused on generative AI in October. Tim Mace, who heads the department, outlined new capabilities his team is developing.

• The new AI head at Man Group, the largest publicly listed hedge fund, breaks down his plans to change how investors work

Other asset managers are also trying to figure out how AI can boost their dealmaking and investment skills

Swedish PE giant EQT built an AI engine called Motherbrain that has changed how its investors source deals. ChatGPT enables the investing giant to take the next step with its AI ambitions.

• EQT is using ChatGPT 'to make cyborgs' out of its dealmakers. Here's how.

AllianceBernstein has been building a team focused on AI and data science since 2017.

Andrew Chin, AB's head of investment solutions and data science, talked to BI about how the asset manager uses AI to get an edge, save analysts hours of work, and improve risk management.

• How $704 billion money manager AllianceBernstein uses AI across everything from research to operations to save hundreds of thousands

AI could make some jobs less tedious but harder to get at the same time

Insider spoke to five industry experts to get their take on how ChatGPT and its underlying tech could be applied to various sectors of financial services.

• ChatGPT could upend jobs across Wall Street. Here's how 6 areas of finance, from investment banking to wealth management, might be impacted.

AI could improve the lives of investment bankers by taking on some tedious tasks, but it can also make it harder to break into and alter the skills required for entry.

• How AI will change the job of the junior banker and raise the bar to entry

As financial firms' AI strategies come into focus, they're hiring more technologists with specialized skills. For those who want to land an AI job on Wall Street, here's everything you need to know about how tech skills and roles are changing.

• The biggest banks are fighting over AI talent. Here are the roles finance firms are looking to hire for, and what skills you need to get them.