- JPMorgan Chase & Co.'s Jamie Dimon selected AI as the first topic for an update on issues facing America's largest bank by assets.
- Dimon said in his annual letter to shareholders released Monday that he believes artificial intelligence will have a profound impact on society.
jamie dimonThe veteran CEO and chairman of JPMorgan Chase & Co. said he believes artificial intelligence will have a major impact on society.
In his annual letter to shareholders released Monday, Dimon provided an update on issues facing the nation's largest bank by assets ahead of geopolitical risks, recent acquisitions and regulatory issues. selected AI as the first topic.
“While we do not yet know the full impact or exact speed at which AI will change our business, or what impact it will have on society as a whole, we are fully confident that the results will be extraordinary. ,” Dimon said.
Its impact “will probably be as transformative as some of the major technological inventions of the past several hundred years. Think of the printing press, the steam engine, electricity, computing, and the Internet.”
Mr. Dimon's letter is widely read in the business world and has generated a lot of buzz because of his status as one of the most successful leaders in the financial world. But his focus on AI, first mentioned in this form in a letter to shareholders in 2017, was striking. The bank currently has more than 2,000 AI and machine learning employees and data scientists.
“Over time, we expect the use of AI to enhance virtually every job and potentially impact the composition of the workforce,” Dimon said. “Certain jobs and roles may be eliminated, but others may be created.”
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