JPMorgan’s Jamie Dimon said that he’ll likely add thousands of more jobs centered around artificial intelligence at his company in the next couple of years.
In an interview with LinkedIn’s Editor in Chief Dan Roth, the JPMorgan CEO lauded AI as a valuable “productivity tool” that is already impacting the workforce, including at his bank.
“It’s huge,” Dimon said of AI. “And what we do is we’ve embedded it in all of our businesses.”
The CEO told LinkedIn that JPMorgan has about 2,000 employees looking at data and analytics, machine learning research, and other areas critical for AI, and that number is likely to expand.
“My guess is that number is going to be 5,000 in a couple of years,” he added.
In addition, Dimon said his company has 400 “AI projects” and will continue to grow each year. The CEO told shareholders in an April letter that the use cases are in marketing, fraud, and risk.
“My guess is 800 in a year — 1,200 after that,” he said. “It is unbelievable for marketing, risk, fraud. Think of everything we do.”
A JPMorgan spokesperson did not immediately return a request for comment from Business Insider.
Dimon previously exalted AI’s arrival in the April shareholder letter, saying that the technology has the potential to “augment virtually every job.”
He also said GenAI — think products similar to ChatGPT — will “reimagine entire business workflows.”
The CEO told LinkedIn that AI will eliminate jobs while adding some new ones. However, he’s unsure what the proportion of losses and additions will be.
“Will it eliminate jobs? Yeah, because we already see it answering questions,” he said. “It’ll add jobs, too. So, the net-net: I don’t know. But we’re not going to stick our head in the sand.”
