In his annual shareholder letter, JPMorgan Chase CEO Jamie Dimon warned that artificial intelligence will “reshape the world’s workforce” and disrupt many industries. He emphasized the need for responsible development and deployment of AI, calling for collaboration between the public and private sectors to establish guardrails. Dimon highlighted AI’s potential to increase productivity and economic growth but cautioned about job losses and societal impacts. He urged companies to retrain workers and governments to update education systems. Dimon also discussed AI’s role in banking, noting its use in fraud detection, customer service, and risk management while stressing the importance of human oversight. The letter underscored the transformative power of AI and the necessity of proactive measures to mitigate risks and ensure AI benefits society.
Source: https://www.cnn.com/2024/04/08/investing/jamie-dimon-shareholder-letter-ai-future/index.html