JP Morgan CEO Predicts AI Will Allow Next Generation to Work Shorter Hours
In an interview on Bloomberg TV, Jamie Dimon, CEO and chair at JPMorgan Chase, stated that artificial intelligence is currently being utilized by numerous employees at his bank and is expected to greatly enhance the quality of life for workers, despite the possibility of job elimination. Dimon further expressed his belief that technological advancements will lead to longer lifespans for future generations, with the potential for reduced working hours to approximately three-and-a-half days per week.
Dimon, who has called AI “critical to the future success of our company,” previously said the technology can be used to help the company develop new products, increase customer engagement, improve productivity and improve risk management.
The New York-based company advertised more than 3,500 related roles between February and April, according to data from consulting firm Evident, and Dimon devoted an entire section to AI in his shareholder letter this year, calling out JPMorgan’s efforts, which include more than 300 uses. cases already in production, an “absolute necessity”.
Despite the positives offered by artificial intelligence, the technology poses risks, Dimon said.
“Technology has done amazing things for humanity, but you know, planes crashing, drugs being misused — there are negatives,” he said. “This, the biggest negative in my opinion, is that bad people use AI to do bad things.”
The CEO said AI may replace some jobs, but that has always been the case with new technology.
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