Jamie Dimon Urges Calm: Why AI Will Create More Jobs Than It Destroys

JPMorgan Chase CEO Jamie Dimon is urging people to stop panicking about AI's impact on jobs. In a recent conversation at the Pennsylvania Defense and Innovation Summit, Dimon emphasized that technology has historically created new jobs, not eliminated them.

"I think people should stop being breathless over it," Dimon said. "Technology always creates new jobs. The question is going to be if it happens too fast, somehow, people are adopting it too fast and jobs are being lost – middle-class jobs before they could be retrained to replace."

Dimon highlighted that at JPMorgan, they are redeploying and reskilling employees rather than laying them off. "We reskill them, retrain them," he said, adding that the focus should be on work skills and planning to protect workers.

He also noted that AI can be used to do things faster and better, not necessarily to reduce headcount. "Here's the choice: do you save money over here because you know that you can do less, or do you simply want to do faster? I'm kind of, of the mindset, do what I want to do faster, give you better stuff quicker."

Dimon concluded that people should take a deep breath and focus on planning for job transitions, which will protect against rapid job loss from AI if it ever happens.