JPMorgan’s Dimon Predicts 3.5-Day Work Week for Next Generation Thanks to AI

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.

Source from: Bloomberg