"Jamie Dimon, CEO of JPMorgan Chase, the U.S.'s largest bank, has emerged as one of the most vocal executives urging caution about AI's impact on jobs. Dimon expects to employ fewer workers in the next five years, but he warned that rushing into AI-driven layoffs without safeguards could backfire, potentially triggering "civil unrest," he said recently while speaking at the World Economic Forum meeting in Davos, Switzerland, Fortune reported."
"Dimon said he would even welcome government bans on replacing large numbers of workers with AI if that were necessary to "save society." He also insisted that companies must plan for the human consequences of automation. "I have a plan to retrain people, relocate people, income-assist people," Dimon said of the 300,000-plus employees on his payroll.Regarding the AI boom set to take hold in enterprises, there is significant computing power needed to underpin it all."
JPMorgan Chase expects to employ fewer workers over the next five years and warns that rapid, unguarded AI-driven layoffs could trigger civil unrest. The bank favors retraining, relocating, and providing income assistance for employees and would welcome government limits on replacing large numbers of workers to preserve social stability. Microsoft frames the future of work as a race between humans and machines and promotes using AI to upgrade human capability. Enterprise AI expansion will require substantial computing power, creating investment pressures that pit rural regions against Silicon Valley for data-center development and infrastructure.
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