AI Is Table Stakes, Not a Moat

YPO Technology Network AI Brief · Jul 17, 2026 · 7m

For two years, CEOs argued about AI in the abstract. This week the most sophisticated, most heavily regulated enterprises on earth put audited numbers on it in their Q2 earnings. JPMorgan's Jamie Dimon says AI has cut jobs by 30 to 40 percent in discrete units across roughly 1,000 use cases; Citi says nearly nine in ten of its people now use its AI tools; Bank of America's assistant Erica handled 200 million customer interactions in a single quarter. AI at scale is real — but Dimon's tell is the story: the gains "accrue to the customer, not to JPMorgan," because every competitor is doing the…