Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers

107344054 1701883163119 gettyimages 1827753774 senate banking 598 120623

107344054 1701883163119 gettyimages 1827753774 senate banking 598 120623

Jamie Dimon, CEO of JPMorgan Chase, recently testified during a Senate committee hearing on Wall Street firms. In his annual letter to shareholders, Dimon discussed the profound impact of artificial intelligence (AI) on society. He expressed his belief that AI will be as transformative as major technological inventions like the printing press and the Internet.

Dimon highlighted the increasing prominence of AI since ChatGPT went viral in late 2022, mentioning the rise of chipmaker Nvidia and the soaring tech industry. JPMorgan currently employs over 2,000 AI and machine learning experts, with plans to integrate AI across all departments. While this technology may replace some jobs, it also has the potential to create new roles within the bank.

Dimon’s letter emphasizes the uncertainty surrounding AI’s effects but underscores the need for JPMorgan to adapt to this evolving landscape.

Jamie Dimon, the CEO and chairman of JPMorgan Chase, highlighted the profound impact that artificial intelligence (AI) will have on society in his annual letter to shareholders. Dimon compared the potential impact of AI to major technological inventions like the printing press, the steam engine, electricity, computing, and the Internet. He expressed that while the full effects of AI are not known, the consequences will be extraordinary. JPMorgan Chase has already invested in AI and machine learning, with over 2,000 employees dedicated to these technologies. Dimon believes that AI will not only augment existing jobs but also create new roles within the bank. This shift towards AI reflects a broader trend in the finance industry and beyond.

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