Title

AWS re:Invent 2023 - JPMorgan Chase: One data platform for reporting, analytics, and ML (FSI317)

Summary

JPMorgan Chase invests $15 billion annually in technology and employs 60,000 engineers.
The Asset Management division manages $2.9 trillion and offers over 600 investment strategies.
The AMIQ data and analytics platform supports various users and use cases within the organization.
The cloud migration was motivated by the need for scalability, velocity, and versatility.
The architecture uses AWS components like S3, EMR, and Redshift, along with internally developed capabilities.
Data ingestion and quality are critical, with a focus on supporting various formats and sources.
Data transformation and reporting are designed for scalability and diversity of data structures.
The platform is built with resiliency in mind to handle edge cases and failures.
A rules engine was developed to simplify the creation of data transformation pipelines.
Data distribution uses Redshift and OpenSearch to serve different consumption use cases.
The platform is made reusable for other teams within JPMorgan, like the Private Bank.
Cost management and serverless adoption are emphasized for efficiency.
The platform has been live for three years, cutting costs in half and enabling faster delivery to business.
It has led to $10 billion in additional sales annually through new products and strategies.

JPMorgan Chase's significant investment in technology underscores the importance of data and analytics in the financial industry.
The AMIQ platform's ability to support a diverse range of users and use cases demonstrates the flexibility and scalability of cloud-based solutions.
The choice of AWS components and the development of internal capabilities highlight the need for a balance between using off-the-shelf services and custom solutions.
The focus on data ingestion and quality reflects the critical nature of reliable data for business intelligence and analytics.
The use of a rules engine for data transformation pipelines indicates a trend towards low-code solutions that empower both engineers and business users.
The platform's design for resiliency and the handling of edge cases is crucial for maintaining uptime and reliability in large-scale systems.
The reusability of the platform for other teams within the organization shows the value of designing modular and extensible systems.
The emphasis on cost management and the move towards serverless architecture reveal a strategic approach to optimizing cloud resources and expenses.
The platform's impact on the business, including significant cost savings and additional sales, illustrates the tangible benefits of investing in a robust data platform.