Dimon’s banking on AI’s bright outlook

The rapid advancement of artificial intelligence will cut the work week to threeand-a-half days, enable people to live to 100, and make cancer a thing of the past, according to the chief executive officer of America’s largest bank.

Jamie Dimon, the CEO of JPMorgan Chase, acknowledged that AI would lead to the elimination of some jobs, but said the tradeoff is worth it.

“Your children are going to live to 100 and not have cancer because of technology,” Dimon told Bloomberg TV on Monday.

“And literally they’ll probably be working three-and-ahalf days a week.”

Dimon, whose net worth is pegged by Forbes at $1.7 billion as of Monday, said AI is “critical to our company’s future success.”

“AI is real,” Dimon told Bloomberg TV on Monday. “It’s a living, breathing thing.”

“Errors, trading, hedging, research, every app, every database — you can be applying AI,” the 67-year-old Dimon said.

“It might be as a co-pilot,” Dimon said, “and it might be to replace humans.”

Analysts at Goldman Sachs have predicted that generative AI could eventually wind up costing 300 million people their jobs.

“People have to take a deep breath, OK?” Dimon added when asked about the prospect of massive job losses.

“Technology has always replaced jobs,” the chief banker said. “[T]echnology’s done unbelievable things for mankind, but, you know, planes crash, pharmaceuticals get misused — there are negatives,” he said.

“The biggest negative in my view is that AI is being used by bad people to do bad things,” Dimon said, citing cyber warfare.

Dimon called for “legal guardrails” to protect against the dangers of AI.