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 deal with the impression of synthetic intelligence on its employees, a part of what he stated must be a broader societal response to the possibly 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 large redeployment plans for [our] personal individuals,” Dimon stated. “The truth is, we spoke about it right this moment, and we’ve to up that a bit bit so we are able to take people who find themselves displaced — and we’ve displaced individuals 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 price range at almost $20 billion. Its executives have outlined an formidable agenda to grow to be “essentially rewired” for the AI period.
Even at this early stage, the financial institution’s workforce gives a snapshot of what occurs when firms make use of AI expertise, 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 modifications beneath the floor: Operations and help workers fell by 4% and a pair of%, respectively, because the agency added 4% to roles that contain catering to purchasers and producing income.
It did that through the use of expertise to spice up the variety of accounts that every operations worker can deal with (up 6%), lowering the per-unit value to cope with fraud (down 11%) and making their software program engineers 10% extra environment friendly, based on the financial institution’s presentation.
JPMorgan has doubled the use instances for generative AI this 12 months, specializing in customer support and the agency’s expertise employees, 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 threat
When an analyst on Monday requested if Dimon was involved concerning the threat of widespread unemployment due to AI — one among a number of fears circulating as each AI mannequin replace appears to wallop the shares of public firms 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 impression of AI to that of electrical energy or the printing press.
Past the “large redeployment plans” for his financial institution, Dimon expressed concern that the speedy adoption of AI might put complete professions out of labor.
As a thought experiment, what if autonomous vans had been launched in a single day, he requested.
“Would you do it for those who put 2 million individuals 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 threat now, with concepts together with help and coaching for displaced employees, he stated.
“Society’s obtained to assume by what it desires to do if this turns into that form of drawback,” Dimon stated. “Now could be the time to start out desirous about it.”
