JPMorgan Chase CEO Jamie Dimon Warns of AI’s Potential to Disrupt Workers Faster Than Society Can Adapt
JPMorgan Chase is at the forefront of financial institutions embracing Artificial Intelligence (AI) to boost productivity, with CEO Jamie Dimon acknowledging the technology’s rapid adoption may outpace the labor market’s ability to adjust. Speaking at the World Economic Forum in Davos, Switzerland, Dimon expressed concerns that the speed of AI implementation could have significant consequences for workers. “I do think it may go too fast for society,” he said. “That’s where governments and business need collaborative ways to step in together and come up with ways to retrain people.”
Dimon’s comments come as JPMorgan Chase is incorporating AI across approximately 500 use cases, including risk, fraud, marketing, customer service, and idea generation. While the bank expects AI to lead to increased productivity and efficiency, Dimon recognizes that these gains will come with trade-offs, including job losses. “It is what it is,” he said. “You can hope for the world you want, but you’re going to get the world you got.”
The Impact of AI on the Labor Market
As AI spreads across the financial sector, job cuts are likely to follow. Dimon predicted that JPMorgan will have “fewer employees” in five years, echoing warnings from other Wall Street leaders. Goldman Sachs and Citigroup have also cautioned that AI-driven efficiency gains will constrain headcount and replace certain roles. Dimon urged companies not to “put your head in the sand” but to embrace AI and work with governments to mitigate its impact on workers.
Dimon called on policymakers to act now to stabilize society before AI’s labor impact becomes fully apparent. He suggested that governments should roll out programs to “retrain people, relocate people, income-assist people,” citing Trade Adjustment Assistance (TAA) as a model. However, he emphasized the need for a more effective approach, saying “We need to be prepared to have something that works this time.”
A Gradual Rollout of AI
Dimon pointed to the US trucking industry as an example of the potential consequences of rapid AI adoption. He warned that replacing 2 million truck drivers with self-driving trucks could lead to significant social unrest, as workers would need to transition to lower-paying jobs. While acknowledging the benefits of self-driving trucks, including improved safety and reduced emissions, Dimon emphasized the need for a gradual rollout of AI, with governments incentivizing companies to slow the pace and support displaced workers with training and financial assistance.
Dimon assured that JPMorgan would be willing to accept a slower rollout of AI if necessary, prioritizing the well-being of society over short-term gains. “We would agree, if we have to do that to save society,” he said. “We’re not going to kill all of our employees tomorrow because of AI.”
Jamie Dimon speaks during the World Economic Forum in Davos on Jan. 21, 2026. Photo by Fabrice Coffrini/AFP via Getty Images
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