The firm recently set up technology hubs for teams specializing in big data, robotics and cloud infrastructure to find new sources of revenue. AFP / Timothy A. CLARY
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At JPMorgan Chase & Co., a learning machine is parsing financial deals that once kept legal teams busy for thousands of hours.The push to automate mundane tasks and create new tools for bankers and clients – a growing part of the firm's $9.6 billion technology budget – will be a theme as the company hosts its investor day Tuesday.That was the message Zames had for Deasy when he joined the firm from BP Plc in late 2013 .JPMorgan will make some of its cloud-backed technology available to institutional clients later this year, allowing firms like BlackRock Inc. to access balances, research and trading tools.The dollar figure has inched higher as JPMorgan bolsters cyber defenses after a 2014 data breach, which exposed the information of 83 million customers.For instance, the bank's machine-learning software was built with Cloudera Inc., a software firm that JPMorgan first encountered in 2009 .
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