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.”
Even with the positives offered by AI, the technology does pose risks, Dimon said.
“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.
–With assistance from Emily Chang.