Jamie Dimon gets real on AI, sees supplies “in some form of bubble territory” Luck

“He will remove it,” Dimon said, pointing out that even tractors and cars, once. “It happens too quickly,” he said, referring to sudden disturbing technological changes. He called on society, government and business to “find out how we can save jobs”, whether it is retraining, new forms of income, early retirement, said that “something – you can’t just take all these people and throw them on the street… earn $ 30,000 a year.

It insisted that the breakthrough is real and it is worth taking seriously. “The AI ​​itself is real,” he said, explaining that he considered basic technology to be transforming and permanent. “You should use it,” he said, talking to any company he listened to. But he added an objection and said in 1996: “The Internet was real,” and “you could look at the whole thing as if it were a bubble.” Then he interrupted the real difference he sees – between AI on the one hand and generative AI on the other. This is an important difference, Dimon said, adding that “some assets prices are high, in some form of bubble territory.”

Bubble or not

Dimon compared today’s AI Conbection until the first days of the Internet and called a “total, payday”, as they eventually appeared and proved resilient. He said he was somewhat cautious about the conditions on the current market, yet he urged people not only to mark all AI as speculative madness. “You can’t look at AI like a bubble, although some of these things may be in the bubble. It is probably worth it.” He said that some projects would not be carried out as they were announced, others would gain the power they need, but refused to discuss them in particular that he urged the investment evaluation. Just a few days earlier, Dimon warned in an interview by the BBC that he had seen a 30% chance of repairing the stock market and called “much more worried than others”.

Under the leadership of Dimon, JPMORGAN has invested billions in artificial intelligence and machine learning since 2012, with more than 2,000 employees to be dedicated to AI and hundreds of production applications. He quoted tangible benefits worth up to $ 2 billion in cost savings or new income flows. Dimon described AI as smoothly rooted into JPMorgan operations, from prevention of fraud to customer service to analysis of complex legal documents.

The CEO distinguished and said that his bank had used AI on “very specific things” such as risk and fraud and marketing, and saw that it works. He claimed that AI adoption is sometimes difficult to distinguish from pure procedure improvement and compare it to switch to a new working stream, “and suddenly your number of employees is 40%.”

But Dimon introduced the generative AI, which is perfectly susceptible to hallucination, in the “second category”. He said it was largely unofficial in terms of efficiency, and some people claim to save them for hours. “What worth it? You only spent two hours by doing something else? We really don’t know.” Reaction to an influential MIT study that found that 95% of generative AI pilots failed to bring return on investment, Dimon said he thought it was a mistake to calculate everything as carefully about efficiency: “We spend a lot of money in the right format. Companies, other CEOs and most of the AI ​​adoption stories “actually works”, which recognizes that some may also be disappointed.

Masterclass

For Dimon, there are rapid changes in this era. “Use it. Get well. He recommended colleagues of executives to invest in training and adaptation. JPMorgan even started sending managers to” championship courses “to deepen his skills and expand organizational expertise.

Given that the global investment boom continues to increase markets – it concludes an estimated 40% of the growth of US GDP in 2025 – Dimon’s voice excels in its sincerity and caution. The pragmatist has always called for thoughtful regulation, a robust security network and intentional planning to alleviate the impacts of AI and the use of its opportunities. Dimon’s report is unmistakable for both politics and business leaders: the AI ​​era is here and the worst reaction is rejection or delay.