AI could lead to 3.5 workdays a week, says JP Morgan CEO

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Jamie Dimon, the CEO of JPMorgan Chase, believes that while AI may lead to job losses, it could also pave the way for a three-and-a-half-day workweek.

In an interview with Bloomberg, Dimon acknowledged the significance of AI, describing it as a “living, breathing thing” that is continually evolving. He emphasized that AI will bring about various models, tools, and technologies.

You can watch the interview here:

Earlier this year, in his shareholder letter, Dimon referred to AI as “extraordinary and groundbreaking.” JPMorgan advertised for over 3,500 AI-related roles between February and April, according to Bloomberg.

Dimon explained that AI will find its way into virtually every application and database, either as a co-pilot or as a replacement for humans. For example, he mentioned that AI is handling much of the equity hedging at the bank.

While Dimon acknowledged that AI will likely replace some jobs, he expressed the hope that JPMorgan can reassign employees to other roles within the organization.

However, the JPMorgan CEO does concede that “there are negatives,” including “AI being used by bad people to do bad things, but that “eventually you’ll have legal guardrails”

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