Jamie Dimon anticipates a significant reduction in working hours in the future.
Imagine a future in which you will have to work only 3 and half days a week – that’s what
JPMorgan Chase CEO
Jamie Dimon thinks is possible with the advent of
artificial intelligence
(AI).
Jamie Dimon
maintains an optimistic outlook on AI influence on the workforce.
Despite advocating traditional workplace values like diligence, preparedness and office attendance, the American business leader suggests that future workforce might benefit from reduced working hours due to AI implementation.
Contrary to predictions of widespread job losses, he emphasises that the technology is enhancing business operations and improving employees’ work-life balance, ET reported The Fortune as saying.
Dimon anticipates a significant reduction in working hours, suggesting employees might only need three and a half days per week, as AI could automate 60% to 70% of current tasks. He projects that alongside shortened workweeks, future employees might enjoy increased longevity.
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“Your children are going to live to 100 and not have cancer because of technology,” Dimon said in an interview on Bloomberg TV according to an ET report. “And literally they’ll probably be working three-and-a-half days a week.”
As America’s largest bank, JPMorgan has already implemented AI across various functions, including error detection, trading, research and hedging. Dimon described AI to Bloomberg TV as a “living breathing thing” that will evolve throughout history.
Whilst concerns about AI replacing human workers persist, with Goldman Sachs forecasting approximately 300 million job losses globally, Dimon emphasises society’s historical ability to adapt to technological changes. He highlights the substantial opportunities for improved living standards through AI and large language models.
According to a McKinsey report from last year, employees could reduce their working hours through AI-driven automation of certain tasks.
JPMorgan Chase’s billionaire chief executive acknowledges that some roles will face disruption from AI implementation. However, regarding
JPMorgan Chase
specifically, Dimon expresses hope to “redeploy” any staff whose positions are affected by AI.
