JPMorgan Chase ramps AI hiring, Jamie Dimon predicts productivity gains
JPMorgan Chase CEO Jamie Dimon says the bank is going big on AI, hiring more tech talent and automating certain tasks.
He admits some roles will disappear, but points out that new jobs will pop up and overall productivity should get a boost.
Dimon reassures that most changes will happen naturally as people leave or move to other roles.
JPMorgan to retrain, offer early retirement
With about 10% of staff leaving each year (that's 25,000 to 30,000 people), JPMorgan plans to retrain or shift employees into fresh positions rather than just cut jobs outright.
Early retirement options are also on the table for those whose roles are phased out by AI.
Other big banks like Standard Chartered and HSBC are also warning that AI will change job roles, and HSBC is urging employees to stay involved in the shift toward automation and not resist change.