AI could automate and augment all of JPMorgans processes says CEO
This statement shows the breadth of AI's capabilities and the faith that executives increasingly have in those capabilities to move the top and bottom lines.
Cite or link to this article
Griffin, M. (2023) 'AI could automate and augment all of JPMorgans processes says CEO', 311 Institute, 8 September. Available at: https://www.311institute.com/ai-could-automate-and-augment-all-of-jpmorgans-processes-says-ceo/ (Accessed: 1 October 2026).
JPMorgan CEO Jamie Dimon says Artificial Intelligence (AI) could be applied to “every single process” of his firm’s operations and may replace humans in certain roles.
In an Oct. 2 interview with Bloomberg, Dimon said he expects to see “all different types of models” and tools and technology for AI in the future. “It’s a living, breathing thing,” he said, adding: “But the way to think about for us is every single process, so errors, trading, hedging, research, every app, every database, you can be applying AI.”
“So it might be as a co-pilot, it might be to replace humans … AI is doing all the equity hedging for us for the most part. It’s idea generation, it’s large language models,” he said, adding more generally, it could also impact customer service.
“We already have thousands of people doing it,” said the JPMorgan CEO about AI research, including some of the “top scientists around the world.”
Asked whether he expects AI will replace some jobs, Dimon said “of course,” but stressed that technology has always done so.
“People need to take a deep breath. Technology has always replaced jobs,” he explained.
“Your children will live to 100 and not have cancer because of technology and literally they’ll probably be working three days a week. So, technology’s done unbelievable things for mankind.”
However, Dimon acknowledged there are also negatives to emerging technologies.
When it comes to AI, Dimon says he’s particularly concerned about “AI being used by bad people to do bad things” — particularly in cyberspace — but is hopeful that legal guardrails will curtail such conduct over time.
Dimon concluded that AI will add “huge value” to the workforce, and if the firm replaces its employees with AI, he hopes they will be able to redeploy displaced workers in more suitable work environments elsewhere in the company.
“We expect to be able to get them a job somewhere local in a different branch or a different function, if we can do that, and we’ll be doing that with any dislocation that takes place as a result of AI.”
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This statement shows the breadth of AI's capabilities and the faith that executives increasingly have in those capabilities to move the top and bottom lines.
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Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
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Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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Source: first published by the 311 Institute on 8 September 2023. Cite as: Griffin, M. (2023). AI could automate and augment all of JPMorgans processes says CEO. 311 Institute. https://www.311institute.com/ai-could-automate-and-augment-all-of-jpmorgans-processes-says-ceo/
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