No cancer, 3.5-days work week: How JPMorgan’s Jamie Dimon expects the future to look like, thanks to AI

JPMorgan Chairman and Chief Executive Jamie Dimon envisages a future free of life-threatening diseases like cancer and a much less stressful life – all thanks to artificial intelligence (AI). Dimon also said that the quality of life is expected to improve dramatically due to AI.

Dimon, in an interview to Bloomberg TV, said, “Your children are going to 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, however, acknowledged that technological advancements such as AI, have always come at the cost of some jobs. “Technology has always replaced jobs,” he said in the interview with Bloomberg’s Emily Chang, adding that tech has done “unbelievable things for mankind” but there are negatives too. The biggest negative of AI, said Dimon, is “bad people” using it to do “bad things”. 

He added that in JPMorgan if AI ends up replacing jobs, then he hopes to redeploy people. He said that JPMorgan will continue to redeploy people who get replaced due to AI. 

Dimon said that AI is “real”, a “living breathing” thing and is used by people widely. He said that AI is capable of replacing human beings. AI is doing the equity hedging for JPMorgan for the most part, he added. He said that they are using AI for multiple roles and assistance, and will soon be part of “every single process”.

In an earlier, separate interview to a daily, Dimon had lauded India for its growth and called it “extraordinary”. He added that JPMorgan, in its initial days in the country had 6,000 employees, which has increased to 50,000 currently. 

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