AI can be used in 'every single process' of JPMorgan’s operations, says CEO
JPMorgan CEO Jamie Dimon says artificial intelligence could be applied to “every single process” of his firm’s operations and may replace humans in certain roles.
In an Oct. 2 interview with Bloomberg, Dimon said he expects to see “all different types of models” and tools and technology for AI in the future. “It’s a living, breathing thing, he said, adding:
“So it might be as a co-pilot, it might be to replace humans … AI is doing all the equity hedging for us for the most part. It’s idea generation, it’s large language models,” he said, adding more generally, it could also impact customer service.
"AI is real"
JPMorgan CEO Jamie Dimon says artificial intelligence will be part of "every single process," adding it's already "doing all the equity hedging for us" https://t.co/EtsTbiME1a pic.twitter.com/J9YD4slOpv
“We already have thousands of people doing it,” said the JPMorgan CEO about AI research, including some of the “top scientists around the world.”
Asked whether he expects AI will replace some jobs, Dimon said “of course” — but stressed that technology has always done so.
“People need to take a deep breath. Technology has always replaced jobs,” he explained.
However, Dimon acknowledged there are also “negatives” to emerging technologies.
When it comes to AI, Dimon says he’s particularly concerned about “AI being used by bad people to do bad things” — particularly in cyberspace — but is hopeful that legal guardrails will curtail such conduct over time.
Related: AI tech boom: Is the artificial intelligence market already saturated?
Dimon concluded that AI will add “huge value” to the workforce and in the event that the firm replaces its employees with AI, he hopes they will be able to redeploy displaced workers in
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