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On Wednesday, JPMorgan Chase (NYSE:JPM) CEO Jamie Dimon expressed his embrace of artificial intelligence to boost productivity across the bank — and even in his own work — but says human judgment remains irreplaceable.
In an interview with CNN's Erin Burnett, Dimon revealed that he actively uses AI tools in his day-to-day work — including when writing his Chairman's Letter and conducting research.
Dimon said he regularly relies on AI to conduct research and assist with tasks such as writing memos and his annual Chairman's letter, noting that the technology is valuable for gathering insights and analyzing data.
However, he highlighted that while AI enhances productivity, it cannot replace human thought or judgment.
Dimon shared that JPMorgan has built its own internal large language models trained exclusively on the bank's private data. These models, he said, are already being used for fraud detection, marketing, design, and risk management.
According to Dimon, employees can ask the system complex questions — such as how many of the bank's portfolio companies are working on drones or have specific financial triggers in their contracts — and receive quick, accurate answers.
Dimon also said that while AI can handle repetitive or analytical work, it cannot replace human creativity and critical thinking.
"It’s not gonna replace thinking. It’s gonna do a lot of work for you," he said.
Last month, a chart circulating on social media has reignited debate about the U.S. economy, showing the S&P 500 surging over 70% since ChatGPT's November 2022 debut while job openings have fallen about 30% — a contrast that's earned it the nickname "the scariest chart in the world."
An October report from Sen. Bernie Sanders (I-Vt.) and the Senate HELP Committee's minority staff warned that AI and automation could displace nearly 100 million U.S. workers over the next decade, with the greatest risk facing fast-food employees, customer service reps, office clerks, cashiers, truck drivers and even professionals like accountants and software developers.
Meanwhile, a Goldman Sachs survey of more than 100 investment bankers found that only 11% of clients in tech, industrial and finance sectors are cutting jobs due to AI adoption.
JPMorgan scores high on Momentum in Benzinga's Edge Stock Rankings, maintaining a strong price trend across short, medium and long-term periods. Click here for a deeper look at the stock's performance, peers, and competitors.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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Posted In: JPM
