CEO of America's largest bank: To reduce our jobs down the road, we will hire fewer bankers

Key points

• Rising debate on impact of AI on jobs JP Morgan CEO Jamie Dimon has said artificial intelligence will likely reduce some banking jobs in the future, with JPMorgan Chase expected to hire fewer traditional bankers as automation expands across the financial industry.
• Speaking during a Bloomberg Television interview at the bank’s China Summit in Shanghai, Dimon said AI would change the kinds of jobs banks need rather than simply eliminating work altogether.
• His comments come as major global banks increasingly turn to AI to improve productivity, reduce costs and automate several back-office operations.“I think it will reduce our jobs down the road,” Dimon said in the interview with Bloomberg.
• “There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers in certain categories, and it will make them more productive.”Dimon said the shift toward AI could largely be managed through...