Jamie Dimon, Chairman and Chief Govt Officer of JPMorgan Chase & Co., attends the ribbon-cutting ceremony opening the agency’s new headquarters at 270 Park Avenue, in New York Metropolis, U.S., October 21, 2025.
Eduardo Munoz | Reuters
JPMorgan Chase CEO Jamie Dimon stated the financial institution is taking steps to handle the influence of synthetic intelligence on its staff, a part of what he stated must be a broader societal response to the doubtless disruptive nature of AI.
Dimon described at an investor assembly late Monday his financial institution’s inner plans to shift staff into new roles as automation accelerates.
“We have already got enormous redeployment plans for [our] personal folks,” Dimon stated. “In actual fact, we spoke about it immediately, and we have now to up that a little bit bit so we are able to take people who find themselves displaced — and we have now displaced folks from AI — and we provide them different jobs.”
JPMorgan, the world’s greatest financial institution by market cap, has the trade’s largest annual tech funds at practically $20 billion. Its executives have outlined an bold agenda to turn out to be “essentially rewired” for the AI period.
Even at this early stage, the financial institution’s workforce supplies a snapshot of what occurs when companies make use of AI know-how, together with fashions from OpenAI and Anthropic, that are each utilized by JPMorgan’s AI portal.
The financial institution’s headcount was roughly unchanged at 318,512 over the previous 12 months, however there have been adjustments beneath the floor: Operations and assist employees fell by 4% and a couple of%, respectively, because the agency added 4% to roles that contain catering to shoppers and producing income.
It did that through the use of know-how to spice up the variety of accounts that every operations worker can deal with (up 6%), decreasing the per-unit value to take care of fraud (down 11%) and making their software program engineers 10% extra environment friendly, in accordance with the financial institution’s presentation.
JPMorgan has doubled the use circumstances for generative AI this 12 months, specializing in customer support and the agency’s know-how staff, Chief Monetary Officer Jeremy Barnum stated on the investor assembly.
A JPMorgan spokeswoman declined to elaborate on Dimon’s feedback about plans for redeployment.
Disruption danger
When an analyst on Monday requested if Dimon was involved in regards to the danger of widespread unemployment due to AI — one in every of a number of fears circulating as each AI mannequin replace appears to wallop the shares of public corporations in current weeks — Dimon had this response: “We’re going to deploy AI as finest we are able to to do a greater job for our prospects,” he stated.
The CEO has beforehand likened the potential influence of AI to that of electrical energy or the printing press.
Past the “enormous redeployment plans” for his financial institution, Dimon expressed concern that the speedy adoption of AI might put total professions out of labor.
As a thought experiment, what if autonomous vans have been launched in a single day, he requested.
“Would you do it when you put 2 million folks on the road?” Dimon requested. “That subsequent job is $25,000 a 12 months, stocking cabinets.”
Companies and governments want to start planning for this danger now, with concepts together with help and coaching for displaced staff, he stated.
“Society’s obtained to suppose by way of what it needs to do if this turns into that form of drawback,” Dimon stated. “Now could be the time to start out fascinated by it.”
