In a recent interview on Sunday, Jamie Dimon, CEO of JPMorgan Chase, reaffirmed his positive outlook on the economic implications of artificial intelligence (AI). He recognized that businesses have adopted a more cautious approach to hiring lately; however, he contends that this trend is not tied to the advent of AI. Moreover, he expressed skepticism towards the notion that AI will lead to a substantial reduction in jobs in the coming year.

Dimon underscored that AI, much like tractors, fertilizers, and vaccines, is poised to make an extraordinary contribution to human society. He envisions a future where people can work with greater ease and savor an enhanced quality of life. Nevertheless, he also highlighted the necessity for proper regulation of AI and encouraged individuals to hone their uniquely human skills, including critical thinking, emotional intelligence, and effective communication.

Should AI cause a swift disruption in the employment landscape, Dimon proposed that both the public and private sectors should collaborate to alleviate the impact. This could involve initiatives such as retraining programs, relocation assistance, income support, and early retirement options. Additionally, he noted that AI is expected to generate employment opportunities in the short term, particularly in sectors like infrastructure development, construction, and fiber optic installation. Previously, Dimon had forecasted that AI could enable developed nations to transition to a three-and-a-half-day workweek within the next 20 to 40 years.