JPMorgan Chase CEO Jamie Dimon is leading a new cross-industry effort aimed at helping banks and other critical infrastructure companies develop a coordinated approach to managing risks arising from the rapid adoption of artificial intelligence.
The initiative is being developed through the Alliance for Critical Infrastructure (ACI), a group that JPMorgan helped establish alongside organisations including Mastercard and Berkshire Hathaway Energy. Dimon has personally approached senior executives at major banks, technology companies and other critical infrastructure organisations to participate.
Outreach began in July 2026 and has involved more than 40 companies across financial services, energy, water, utilities, telecommunications, airlines, railways and other technology-dependent sectors. The expanded initiative is expected to create a common forum for organisations to discuss how AI is being deployed, identify emerging risks and determine appropriate safeguards.
The ACI is also expected to work with the US government on AI-related risks and resilience. Its wider mandate already covers cyber, physical and geopolitical threats affecting critical infrastructure, while the latest effort places greater emphasis on vulnerabilities arising from advanced AI systems.
The initiative comes amid growing concern that AI could strengthen cyberattack capabilities while simultaneously creating new operational and security vulnerabilities for banks and other infrastructure providers. Recent cyberattacks affecting water infrastructure in the US have added urgency to calls for greater information-sharing between industries.
The ACI initiative is separate from another banking-sector effort focused on stress-testing advanced AI models for security vulnerabilities. The revamped alliance is expected to become fully operational by the end of 2026.
Banks Rapidly Scaling AI Adoption
The push for stronger safeguards comes at a time when major banks are rapidly integrating AI into everyday operations.
At Bank of America, more than 200,000 employees are using AI-enabled tools and generating over 400,000 prompts each day across areas including productivity, software coding and client preparation. The bank has more than 300 approved AI use cases, including 114 generative AI applications, of which 34 have been fully implemented.
At Citigroup, CEO Jane Fraser has said that nearly 90% of employees are using the bank’s AI tools, with the technology contributing to faster product development and productivity improvements.
JPMorgan itself has nearly 1,000 live AI use cases covering functions such as risk management, fraud prevention, marketing and document review. Despite the scale of deployment, Dimon has remained cautious about assuming that AI will immediately translate into substantially higher banking margins.
Industry surveys also indicate that banks currently expect AI to generate greater benefits through cost reduction than through additional revenue. A D.A. Davidson survey cited by InvestmentNews found that banks expect AI to reduce expenses by around 4.5%–5% over the next two to three years, compared with expected revenue gains of approximately 2.5%–3%.
Larger banks with more than $50 billion in assets expect an average 5.6% reduction in expenses and around 3.1% revenue growth from AI. However, only 11% of surveyed banks said that AI-related cost savings are currently measurable, highlighting the difficulty of quantifying returns even as adoption accelerates.
The formation of a broader AI-risk coalition therefore reflects an important shift in the banking industry’s approach to artificial intelligence. Banks are increasingly moving beyond questions of adoption and productivity towards issues of cybersecurity, operational resilience, model risk, governance and cross-industry coordination.
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