JPMorgan Chase CEO Jamie Dimon said the bank is proactively managing the workplace impact of artificial intelligence, while cautioning that governments and businesses must prepare for wider societal disruption as automation accelerates.
Speaking at an investor meeting, Dimon detailed internal efforts to redeploy employees whose roles have been affected by AI adoption. The bank has already displaced some workers as it integrates new technologies, but is expanding programs to move impacted staff into alternative positions within the firm.
“We already have huge redeployment plans for our people,” Dimon said, adding that employees displaced by AI are being offered other roles across the organization.
The lender — the world’s largest bank by market value — spends nearly $20 billion annually on technology and has outlined an ambitious agenda to become “fundamentally rewired” for the AI era. Its executives have repeatedly stressed that the goal of AI deployment is to enhance productivity and improve customer service.
Even at this early stage, JPMorgan’s workforce shifts offer a snapshot of how large corporations are reshaping talent strategies around AI. The bank’s headcount remained broadly steady at 318,512 over the past year. However, operations staff declined by 4% and support roles fell 2%, while positions tied to client engagement and revenue generation rose 4%.
Chief Financial Officer Jeremy Barnum said generative AI use cases at the bank have doubled this year, particularly within customer service and internal technology teams. JPMorgan uses AI models from OpenAI and Anthropic through its internal AI platform.
Addressing concerns about widespread job losses — heightened by rapid technological advances and market volatility — Dimon reiterated that the bank’s immediate focus is on using AI to better serve customers.
He has previously likened AI’s transformative power to electricity and the printing press. Still, Dimon acknowledged that unchecked adoption could eliminate entire professions. Citing autonomous trucking as an example, he posed a broader question about societal trade-offs: “Would you do it if you put 2 million people on the street?” He warned that replacement jobs, where available, could come with significantly lower pay.
Dimon urged policymakers and corporate leaders to begin planning for potential fallout now, including retraining initiatives and support systems for displaced workers.
“Society’s got to think through what it wants to do if this becomes that kind of problem,” he said. “Now is the time to start thinking about it.”
