JPMorgan Chase CEO Jamie Dimon has hinted that artificial intelligence is poised to drastically shrink the workforce at America's largest bank. The bank plans to hire more AI specialists and fewer traditional bankers, he told Bloomberg TV in Shanghai. As automation expands across the financial industry, the tech titan said AI would change the kinds of jobs banks need rather than simply eliminating work altogether.
“There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers in certain categories, and it will make them more productive,” Dimon said. “I think it will reduce our jobs down the road.” The remarks of Jamie Dimon come at a time when major global banks increasingly turn to AI to improve productivity, reduce costs and automate several back-office operations.
