‘Hiring more AI people and fewer bankers’: JPMorgan’s Jamie Dimon indicates massive banking shake-up

Artificial intelligence is no longer just a support tool for banks. It is starting to reshape the kind of people banks hire and the jobs they keep. JPMorgan Chase chief executive Jamie Dimon has now openly acknowledged that AI will eventually reduce headcount at the bank as automation spreads across the financial sector.

Speaking at JPMorgan’s China Summit in Shanghai, Dimon said the bank would increasingly hire AI specialists while reducing hiring in some traditional banking roles. “There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers in certain categories, and it will make them more productive,” he said. Dimon also added, “I think it will reduce our jobs down the road.”