LIFETIME OF ACHIEVEMENT
This illustrious background at some of America ’ s largest financial institutions , as well as close to two decades at JPMorgan , have obviously made Dimon a leading figure in the country ’ s banking scene . He regularly speaks out about issues affecting banks and businesses , named in Time magazine ’ s list of the 100 most influential people anywhere on planet Earth and amassing a fortune estimated at US $ 1.6bn .
Artificial intelligence ‘ will add huge value ’ His finger is still on the pulse of new developments in the American economy , telling Bloomberg earlier this year that the rise of artificial intelligence ( AI ) might lead to many Americans being able to enjoy more downtime .
“ AI is real ,” Dimon told Bloomberg ’ s Emily Chang , pointing out that thousands of computer scientists all around the world are already working on real-life
applications . “ Every single process – so errors , trading , hedging , research – every app and every database is going to be employing AI . It might be as a co-pilot , it might be to replace humans – for example , AI is doing all the equity hedging for us for the most part . It ’ s a little bit of everything .
“ Technology has always replaced jobs . Your children will live to 100 and not have cancer because of technology , and they ’ ll probably be working three-and-a-half days a week . Technology has done unbelievable things for mankind , but planes crash and pharmaceuticals get misused ,” he added , referring to the weaknesses in every new technology or advancement in society .
“ There are negatives and one of the biggest negatives in my view is AI being used by bad people to do bad things . I do think eventually you ’ ll have legal guardrails around it . It ’ s kind of hard to do , because it is new . But it will add huge value .” He predicted that , within JPMorgan Chase , where AI replaces jobs ,
24 December 2023