JPMorgan Chase plans to deploy artificial intelligence agents later this year that can operate autonomously for up to two hours, the bank's Chief Analytics Officer Derek Waldron told CNBC in an exclusive interview. The deployment represents an evolution from AI tools completing single tasks in two to three minutes to digital workers managing workflows across multiple steps and software programs. Waldron stated the bank has entered "the era of long-running autonomous agents," marking a milestone in corporate AI adoption as the technology clears security and governance hurdles that have slowed implementation inside large companies.
JPMorgan Develops AI Agents with Extended Operational Duration
Derek Waldron told CNBC that AI agents are transitioning from tools completing single tasks to digital workers managing workflows across multiple steps and disparate software programs. "We've entered now the era of long-running autonomous agents," Waldron said. "That means that agents don't just run for two or three minutes to carry out a goal or some instructions of a human, they can run for an hour or two."
Waldron explained that improvements in AI model reasoning enable systems to function as "team managers" rather than individual workers. "Just like how people function, team managers can parse out a problem and delegate activities, and teams can run for a lot longer to do more complex things," he said.
Recent technical advances supporting complex operations include the ability to write code, control web browsers, and interact directly with desktop software, according to Waldron. He confirmed that while long-running agents face security concerns limiting immediate corporate use, "We will have those in 2026." Waldron stated that AI agents will eventually remain coherent for "multiple hours, then days, then weeks."
JPMorgan Chase, run by CEO Jamie Dimon since 2006, operates as the largest U.S. bank by assets with a $20 billion annual technology budget.
Private Banking Division Reports 20% Sales Increase from AI Tools
Waldron stated that AI-driven productivity gains have expanded beyond software development and back-office operations into revenue-generating roles. In private banking, AI systems screen market activity, client positions, and research overnight, enabling bankers to focus on client interactions.
The bank has recorded a 20% increase in gross sales due to these tools, Waldron said. He stated the bank believes AI tools could eventually allow individual bankers to expand client coverage by as much as 50%.
Waldron noted that companies initially approaching AI as a cost-cutting tool are increasingly recognizing revenue expansion potential. "For enterprises to win with AI, it's not about cutting the maximum number of jobs," he said. "It's all about trying to create a sustainable competitive advantage."
Dimon has stated that some workers will be displaced by AI, saying the firm is preparing to train and redeploy employees impacted by the changes.
Bank Shifts Software Development Strategy Amid AI Capabilities
Waldron stated that JPMorgan's approach to building versus buying software from outside vendors has shifted. The bank now examines more closely whether it can build capabilities in-house, he said, potentially pressuring traditional vendors.
"The moat around certain types of software companies is most certainly diminished versus where it was in the past," Waldron said.
FAQ
What did JPMorgan Chase announce about AI agents in 2026?
JPMorgan Chase plans to deploy AI agents later this year that can operate autonomously for up to two hours, compared to current versions running for two to three minutes. Chief Analytics Officer Derek Waldron told CNBC the bank has entered "the era of long-running autonomous agents" that manage workflows across multiple steps and software programs. Waldron confirmed: "We will have those in 2026."
How has AI impacted JPMorgan's private banking sales?
JPMorgan's private banking division recorded a 20% increase in gross sales due to AI tools, according to Derek Waldron. AI systems screen market activity, client positions, and research overnight, allowing bankers to focus on client interactions. Waldron stated the bank believes these tools could eventually enable individual bankers to expand client coverage by as much as 50%.
Why did JPMorgan change its software development approach?
Derek Waldron stated that JPMorgan now examines more closely whether it can build software capabilities in-house rather than purchasing from outside vendors. He said: "The moat around certain types of software companies is most certainly diminished versus where it was in the past." The shift reflects expanded AI capabilities enabling in-house development that previously required external vendors.
