Finance
Dimon Likens AI’s Transformational Impact to Steam Engine
- JPMorgan CEO says AI could ‘augment virtually every job’
- Dimon discusses regulation, proxy advisers in annual letter
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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said artificial intelligence may be the biggest issue his bank is grappling with, likened its potential impact to that of the steam engine and said the technology could “augment virtually every job.”
The CEO devoted a chunk of his annual shareholder letter to the importance of AI for the Wall Street giant’s business and for society at large. The bank has identified more than 400 use cases for the technology across marketing, fraud and risk, amassed thousands of AI experts and data scientists and begun exploring deploying generative AI, Dimon said.