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JAMIE DIMON
CHAIRMAN AND CEO - JPMORGAN CHASE JPMorgan’s Jamie Dimon opines on the huge positive possibilities associated with the use of AI Original article: https://www.bloomberg.com/news/articles/2023-10-02/dimon-sees-ai-giving-a-3-1-2-day-workweek-to-the-next-generation Peter Burgess COMMENTARY Peter Burgess | |||||||||
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JPMorgan’s Dimon Predicts 3.5-Day Work Week for Next Generation Thanks to AI
Dimon Says AI May Bring 3 ½ Day Workweek in the Future
Written by Daniel Taub and Hannah Levitt ... With assistance by Emily Chang
October 2, 2023 at 10:59 AM EDT
Jamie Dimon said artificial intelligence is already being used by thousands of employees at his bank, and is likely to make dramatic improvements in workers’ quality of life, even if it eliminates some jobs.
“Your children are going to live to 100 and not have cancer because of technology,” Dimon said in an interview on Bloomberg TV Monday. “And literally they’ll probably be working three-and-a-half days a week.”
Dimon, who has called AI “critical to our company’s future success,” previously said the technology can be used to help the firm develop new products, drive customer engagement, improve productivity and enhance risk management.
The New York-based firm advertised for more than 3,500 related roles between February and April, according to data from consultancy Evident, and Dimon dedicated an entire section to AI in his shareholder letter this year, calling JPMorgan’s efforts, which include more than 300 use cases already in production, “an absolute necessity.”
Read More: JPMorgan’s AI Push Has Wall Street Rivals Playing Catch-Up
Even with the positives offered by AI, the technology does pose risks, Dimon said.
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“Technology has done unbelievable things for mankind but, you know, planes crash, pharmaceuticals get misused — there are negatives,” he said. “This one, the biggest negative in my view is AI being used by bad people to do bad things.”
The CEO said AI might replace some jobs, but that’s always been the case with new technology.
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