JPMorgan Chase boss Jamie Dimon says that while AI might lead to job loses it could also help to usher in a three-a-half day work week.
In an interview with Bloomberg, Dimon says: "I think the most important thing is AI is real. We already have thousands of people doing it. It’s a living breathing thing. It’s gonna change, there’s gonna be all types of models and different types of tools and technology."
In his shareholder letter earlier this year Dimon called AI "extraordinary and groundbreaking". The Wall Street giant advertised for more than 3500 related roles between February and April, says Bloomberg.
In the interview, Dimon says: "Every app, every database, you’re gonna be applying AI. So it might be as a co-pilot. It might be to replace humans. You know AI is doing all the equity hedging for us for the most part."
Dimon adds that "of course" the technology will replace some jobs but at the bank "we hope to redeploy people".
He say "[P]eople have to take a deep breath here. Technology’s always replaced jobs. Your children will live to 100 and not have cancer - because of technology. And literally they’ll probably be working three and a half days a week."
The JPMorgan CEO does concede "there are negatives," including "AI being used by bad people to do bad things, but that "eventually you’ll have legal guardrails"