Jamie Dimon has had a big week: As JPMorgan released its latest blockbuster earnings, he held forth as a leading (some would say the leading) voice on Wall Street. The investment bank CEO was in Washington, D.C., on Tuesday, appearing at the Fortune Most Powerful Women Summit with editor-in-chief Alyson Shontell, when the subject turned to everyone’s favorite conversation in 2025: the AI bubble, or lack thereof. Dimon said that isn’t quite right in his opinion, but also that he thinks “people should stop sticking their head in the sand” on the subject of job loss, reiterating a favorite recent refrain of his.
“It will eliminate jobs,” Dimon said, pointing out that so did tractors and cars, once upon a time. “It happens too fast,” he said, referring to sudden, disruptive technological change. He urged society, government, and business to “figure out how we can save jobs,” whether that’s through retraining, a new form of income, early retirement, he said there’s a need for “something—you can’t just take all these people and throw them on the street … making $30,000 a year when they were making [$150,000], you’ll have a revolution.”
