Jamie Dimon says society should start preparing for AI job displacement: ‘Now’s the time to start thinking about’ it

Jamie Dimon wants society to start worrying about AI-driven job loss before it actually happens.

The longtime JPMorgan Chase CEO told investors at a company event on Tuesday that businesses and governments need to start preparing now in order to handle the labor disruption that AI could bring.

“I’m not predicting [it] can be a problem. I’m simply saying now’s the time to start thinking about what you do if it does,” Dimon warned.

In characteristically blunt fashion, the CEO added that JPMorgan wasn’t going to put its “head in the sand” when it comes to AI transformation. To the contrary, he said, the bank is deploying AI aggressively and already has an LLM model that 150,000 people use every week.

But thanks to the productivity gains brought on by AI, it’s likely JPMorgan will employ fewer people in the next five years, Dimon said last month at the World Economic Forum meeting in Davos.

While Dimon worries about how society will react to an exodus of AI-displaced employees, he is making sure JPMorgan isn’t caught off guard. In fact, the company is taking critical steps to...