JPMorgan's top quant strategist, Marko Kolanovic, has raised concerns about the hype surrounding artificial intelligence which is likely to take longer time to get materialized, per various sources. Moreover, although inflation has cooled from its highs last year, there is still a significant risk that it could rebound due to lingering economic pressures, such as rising oil prices on geopolitical concerns and still-strong labor market. The downgrade comes as these financial institutions grapple with a complex mix of challenges, from interest rate volatility to asset-liability management risks.