JPMorgan Chase & Co. CEO Jamie Dimon expects the company to employ fewer people in the coming years due to AI advancements. Speaking at the World Economic Forum in Davos, Dimon projected the workforce reduction will occur over the next five years as AI integrates into bank operations.
Dimon cautioned against rapid, large-scale layoffs driven by AI, warning such actions could lead to "civil unrest." He stressed the importance of a phased approach, which includes retraining and redeploying employees affected by automation.
JPMorgan plans to support its workforce through this transition. Dimon stated he would even consider government intervention to prevent abrupt, widespread job losses.