JPMorgan CEO Dimon finally answers the call on AI

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JPMorgan CEO Dimon finally answers the call on AI

With the world obsessed with artificial intelligence, Wall Street's Jamie Dimon has finally answered the call.

Will robot overlords ever take our jobs?

The tools and language models are already being deployed at JP Morgen, which is helping the banking giant do its equity hedging, he said.

It's more than a job-taking bogeyman, he said. He boasts several key advantages, much like any new technology.

The bank's employees are already using technology to enhance their work, and JP Morgan will look to'redeploy people' if AI suppresses more jobs.

Still, that's not all he recognized that there might be some setbacks but emphasised that they should be seen as part of the package.

From crypto to AI, and back again.

Despite his high praise for AI, Dimon has been less enthusiastic about the leading cryptocurrency.

But he has maintained a firm grasp of the promise of blockchain tech and the future of decentralized finance, known as DeFi.

The CEO of JPMorgan said he is 'at the forefront' of these innovations in a 2022 letter to shareholders.