"JPMorgan Chase CEO Jamie Dimon says corporate leaders can't ignore the tidal wave of artificial intelligence reshaping their industries. "I think people shouldn't put their head in the sand," he said Tuesday in a Bloomberg TV interview. "It is going to affect jobs." Dimon, who has long touted AI as one of the bank's most powerful tools, said the technology is already reshaping nearly every corner of JPMorgan's operations, from risk and fraud detection to marketing, customer service and research."
""It affects everything," he said. "It's kind of the tip of the iceberg. We're getting better and better at it." The bank now employs about 2,000 people working on AI systems it has been developing since 2012, Dimon said. JPMorgan has also built its own homegrown LLM model that is trained entirely on internal data. "On my phone here, we have a suite, to do research and summarize reports and scan contracts," he said, noting that roughly 150,000 employees use it daily."
Artificial intelligence is reshaping banking operations across risk and fraud detection, marketing, customer service, and research. AI adoption is already affecting jobs and delivering measurable efficiency gains. About 2,000 employees work on AI systems developed since 2012, and a proprietary LLM trained on internal data supports internal workflows. A suite of AI tools on mobile devices is used to research, summarize reports, and scan contracts, with roughly 150,000 employees using it daily. The systems are developing agentic coding capabilities. Annual AI spending is about $2 billion and yields roughly $2 billion in benefits, including reduced headcount, fewer errors, and faster workflows, while some service-quality improvements remain harder to quantify. Massive technology shifts create both winners and losers, and infrastructure spending has been largely productive despite some failures.
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