JPMorgan Chase CEO Jamie Dimon announced the bank is redeploying employees displaced by artificial intelligence into new roles. The company plans to accelerate these redeployment efforts as AI-driven automation advances across its operations.
The bank invests nearly $20 billion annually in technology. AI integration has delivered productivity gains in software engineering and lowered costs in fraud management. The number of generative AI use cases at the bank doubled this year.
While overall headcount remains stable, the workforce composition is shifting. Operations staff decreased by 4% over the last year. Support roles saw a 2% decline during the same period. These reductions were offset by a 4% increase in client-facing and revenue-generating positions.