TLDR
- JPMorgan’s Jamie Dimon predicts AI will cut jobs but won’t cause dramatic losses in 2025
- The banking CEO envisions a 3.5-day workweek becoming reality within 20 to 40 years
- Dimon urges workers to develop critical thinking, communication, and emotional intelligence skills
- He warns governments and companies must manage AI rollout to prevent mass worker displacement
- Goldman Sachs and Wells Fargo CEOs agree AI will reduce workforce numbers across industries
Jamie Dimon told Fox News that artificial intelligence will reshape the American workforce in the coming years. The JPMorgan Chase CEO said job losses are inevitable but not catastrophic in the near term.
During his appearance on “Sunday Morning Futures,” Dimon addressed concerns about AI replacing workers. He said the technology won’t dramatically reduce employment in 2025.
“For the most part, AI is going to do great stuff for mankind,” Dimon explained. He compared AI to transformative technologies like tractors, fertilizers, and vaccines.
The banking executive was clear that some jobs will disappear. “It will eliminate jobs,” he stated. However, he believes displaced workers will find new employment opportunities.
Dimon expressed concern about the speed of AI adoption. He warned that society might not be able to train workers fast enough to keep pace with technological change.
“If it does happen too fast for society, which is possible, we can’t assimilate all those people that quickly,” the CEO said.
Companies and Governments Must Manage AI Rollout
Dimon called on corporations and government agencies to phase in AI carefully. He said they need to protect workers from sudden displacement.
The JPMorgan chief suggested several support measures for affected employees. These include retraining programs, relocation help, income assistance, and early retirement packages.
He advised workers to focus on skills that AI cannot easily replicate. “Learn skills, learn your EQ, learn how to be good in meetings, how to communicate, how to write,” Dimon recommended.
Workers who develop critical thinking and emotional intelligence will remain valuable, according to the CEO. He believes these individuals will find plenty of employment opportunities.
AI Could Enable Shorter Work Schedules
At the America Business Forum in Miami last month, Dimon made a striking prediction. He said developed nations could adopt a 3.5-day workweek within two to four decades.
“Maybe one day we’ll be working less hard, but having wonderful lives,” Dimon told Fox News. He envisions AI agents handling research tasks and routine work.
The CEO stressed that AI requires proper oversight and regulation. He compared it to technologies like airplanes and pharmaceuticals that need safety guardrails.
“There are downsides to AI, just like there are to airplanes, pharmaceuticals, and cars,” Dimon said. Without regulation, bad actors could exploit the technology.
Other major banking leaders share Dimon’s assessment of AI disruption. Goldman Sachs CEO David Solomon told CNBC in October that AI will transform job functions while creating new opportunities.
Wells Fargo CEO Charles Scharf spoke more bluntly to Reuters. He said anyone claiming AI won’t reduce headcount is either misinformed or dishonest.
At a Fortune conference, Dimon urged executives to face reality about AI’s impact. “People should stop sticking their heads in the sand,” he said.
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