Jamie Dimon On AI impact: It Will Replace Jobs In Banking And Financial Services

Artificial Intelligence is as transformative as the steam engine and the internet — says JPMorgan Chase CEO Jamie Dimon in this candid conversation at the Stanford Graduate School of Business. AI is already revolutionizing banking, fraud detection, and trading, but its biggest impact? Jobs. Dimon warns that AI will replace jobs across industries, just as tractors and automation did in agriculture and manufacturing. While some roles will evolve with AI assistance, others will disappear entirely. With JPMorgan investing $2 billion in AI and deploying 450+ use cases, from risk management to customer service automation, Dimon stresses the need for businesses to prepare for workforce disruptions through attrition, reskilling, and redeployment. The discussion also covers open banking and data privacy, with Dimon taking a strong stance against unchecked data sharing. Should financial institutions be required to share consumer data? How should AI be regulated to balance innovation with ethical concerns? With AI changing the global workforce and financial markets, this is a must-watch conversation on the future of work, banking, and regulation.