JPMorgan Chase Chairman and CEO Jamie Dimon believes that with proper AI regulations in place, AI will not trigger massive job cuts next year.
Appearing on Fox News‘ Sunday Morning Futures on December 7, Dimon was asked how Americans should prepare for the AI revolution. He drew parallels to past innovations like tractors, fertilizers, and vaccines, predicting that AI will similarly protect lives and benefit humanity. He also said he does not expect AI to cause widespread job losses in the coming year.
He pointed out that job opportunities and wages have been declining even before AI’s widespread adoption, suggesting that this trend cannot be blamed on technology alone.
Dimon stressed the need for regulation, noting that AI, like aircraft, pharmaceuticals, and automobiles, comes with its own set of drawbacks.
While acknowledging that AI may eliminate some jobs, Dimon expects workers will be able to find new opportunities in different sectors.
He advised that those who focus on self-improvement will find plenty of job openings, and that people should prepare for the possibility that society may change very quickly.
He further predicted that AI technology will aid in retraining and redeploying workers, potentially providing income support or assistance during early retirement.
Dimon expressed optimism about the quality of new AI-created jobs, encouraging people to acquire the necessary skills. He emphasized that workers with specialized skills will always be in high demand.
He added, “In the short term, AI could actually create more jobs.”
