SHANGHAI—JPMorgan Chase CEO Jamie Dimon said the bank expects artificial intelligence to reshape its workforce over time, potentially leading the company to hire more AI specialists and fewer traditional bankers in some roles, according to reporting by PYMNTS.
Speaking during an interview with Bloomberg Television at the bank’s China Summit in Shanghai, Dimon said AI will likely reduce certain categories of jobs while making employees more productive. Dimon added that the shift would create different types of roles, particularly in technology and client-facing positions, and said the transition could largely occur through normal workforce attrition rather than widespread layoffs, PYMNTS reported.
The comments come amid a broader push across the banking industry to automate back-office and operational functions using AI. PYMNTS noted that executives at banks including Standard Chartered, Goldman Sachs and HSBC have recently warned that AI will eliminate some existing roles while creating demand for new technology focused positions. The remarks have also sparked political and labor concerns internationally, including calls from Singapore officials for banks to ensure AI adoption leads to better workforce opportunities and retraining efforts.
PYMNTS also pointed to recent PYMNTS Intelligence research showing many employers remain behind in preparing workers for the AI transition. Its “Wage to Wallet™ Index – The Resilience Deficit: Labor Workers in an Automated Economy” found roughly half of salaried or higher-income U.S. workers had received no workplace training on AI tools, automation or related technologies over the prior year, despite the rapid expansion of AI across industries.