JPMorgan Chase & Co chief executive Jamie Dimon has said the bank’s workforce is likely to remain steady or even grow as artificial intelligence becomes more deeply embedded in its operations. His comments counter the widespread concern that automation will cause massive job losses across industries.Speaking to CNN, Dimon explained that JPMorgan’s focus is on using AI to enhance efficiency rather than reduce staff numbers. “We always redeploy,” he said, referring to employees whose roles are reshaped by new technology. While acknowledging that AI will reduce workloads in several areas, he emphasized that “it will also create jobs,” particularly in data, analytics and technology infrastructure.His remarks come as several major US companies, including Amazon, Meta, and Microsoft, have carried out large-scale layoffs while accelerating their investment in AI. Amazon has already cut around 14,000 corporate roles this year as part of its AI-driven restructuring, sparking debate about the long-term impact of automation on the American workforce.However, JPMorgan, the largest US bank by assets, has adopted a different stance. Dimon told CNN that although the broader labor market has weakened, it is uncertain whether that trend will persist.As per Bloomberg, he maintained a cautiously optimistic outlook, noting that technological innovation historically generates more employment than it replaces. “There has been a weakening in the broader labor market,” he said, adding, “The economy is still chugging along. It may have gotten a little bit weaker, but right now it’s still kind of in that soft landing.”Praising AI’s potential, Dimon called chipmaker Nvidia an “unbelievable company,” adding that the technology is “real” and capable of making firms “hugely productive.” He compared today’s AI boom to the internet revolution, saying, “They may not all pay off, but you did get Google, Facebook, YouTube, part of Microsoft, Amazon, Salesforce… Yeah, there was a little bit of a bubble in there.”Dimon believes AI holds “enormous” potential for breakthroughs in medicine, engineering, and other fields, suggesting that “mankind should benefit.”He admitted that AI could displace up to 80% of jobs in some professions but said new opportunities would arise elsewhere. The key, he added, will be “thoughtful” government support and “proper regulation” if AI evolves faster than society can adapt.
