From CNBC: 2024-04-08 06:40:51

Jamie Dimon, CEO of JPMorgan Chase, testified in the Senate on Dec. 6, 2023. In his annual letter to shareholders, he highlighted the impact of artificial intelligence on society, predicting it could be as transformational as past technological inventions. Dimon emphasized the potential of AI to augment jobs and impact workforce composition.

Dimon’s letter covered various topics, including inflationary pressures and geopolitical risks. AI, first mentioned in a 2017 shareholder letter, has gained prominence in recent years. JPMorgan now has over 2,000 AI and machine learning employees, with Dimon foreseeing AI touching all 310,000 employees. The technology could both assist and replace workers in different roles.

Enthusiasm for AI has fueled the success of companies like chipmaker Nvidia. The technology’s ability to generate human-sounding responses has driven its popularity. Dimon believes AI will have an extraordinary impact on society, comparable to past inventions like the printing press and the internet. Stay tuned for updates on this story.

Read more: Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers