Jamie Dimon, CEO of JPMorgan Chase, testifies all through the Senate Banking, Housing and City Affairs Committee hearing titled Annual Oversight of Wall Avenue Companies, in the Hart Making on Dec. 6, 2023.
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Jamie Dimon, the veteran CEO and chairman of JPMorgan Chase, explained he was confident that synthetic intelligence will have a profound influence on modern society.
In his yearly letter to shareholders produced Monday, Dimon chose AI as the initial topic in his update of challenges facing the largest U.S. bank by property — ahead of geopolitical hazards, current acquisitions and regulatory matters.
“When we do not know the whole result or the exact amount at which AI will alter our business — or how it will have an impact on modern society at big — we are wholly convinced the repercussions will be extraordinary,” Dimon said.
The impact will be “potentially as transformational as some of the significant technological inventions of the previous many hundred many years: Imagine the printing push, the steam motor, energy, computing and the Net.”
Dimon’s letter, read commonly in the enterprise entire world mainly because of his standing as just one of the most thriving leaders in finance, strike a vast selection of topics. But his target on AI, to start with mentioned in this format in a 2017 shareholder letter, stood out. The lender now has extra than 2,000 AI and equipment understanding personnel and info scientists, he reported.
“Over time, we foresee that our use of AI has the possible to augment just about each individual occupation, as effectively as affect our workforce composition,” Dimon explained. “It may perhaps decrease sure position types or roles, but it may perhaps create other folks as very well.”
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