Jamie Dimon, Chairman and CEO of JPMorgan Chase, attends the groundbreaking ceremony for the company’s new headquarters at 270 Park Ave. in New York on October 21, 2025.
Eduardo Munoz | Reuters
JPMorgan Chase CEO Jamie Dimon said the bank was taking steps to address the impact of artificial intelligence on its employees, and part of what he said should be a broader societal response to the potentially disruptive nature of AI.
Dimon described at an investor meeting Monday evening his bank’s internal plans to redirect employees into new roles as automation accelerates.
“We already have huge redeployment plans for [our] “We talked about our own people,” Dimon said. “Actually, we talked about this today, and we need to increase that number a little bit to be able to accommodate displaced people – and we have displaced people from AI – and offer them other jobs.”
JPMorgan, the world’s largest bank by market capitalization, has the industry’s largest annual technology budget at nearly $20 billion. Its leaders have outlined an ambitious agenda aimed at being “fundamentally reimagined” for the AI era.
Even at this early stage, bank staff provide insight into what happens when companies use AI technology, including models from OpenAI and Anthropic, both of which are used by JPMorgan’s AI portal.
The bank’s headcount remained roughly unchanged at 318,512 over the past year, but there were changes beneath the surface: Operations and support staff declined 4% and 2%, respectively, while the company added 4% to positions that involve serving customers and generating revenue.
It achieved this by using technology to increase the number of accounts each operational employee can manage (up 6%), reducing the unit cost of fighting fraud (down 11%) and making its software engineers 10% more efficient, according to the bank’s presentation.
JPMorgan has doubled down on generative AI use cases this year, focusing on customer service and the company’s technology workers, Chief Financial Officer Jeremy Barnum said at the investor meeting.
A JPMorgan spokeswoman declined to elaborate on Dimon’s comments on the redeployment plans.
Risk of disruption
When asked by an analyst on Monday if Dimon was concerned about the risk of widespread unemployment due to AI – one of several fears circulating as each AI model update seemed to dent public company stocks in recent weeks – Dimon had this response: “We’re going to deploy AI as best we can to do a better job for our customers.” »
The CEO has previously compared the potential impact of AI to that of electricity or the printing press.
Beyond his bank’s “huge redeployment plans”, Dimon expressed concern that the rapid adoption of AI could put entire professions out of work.
As a thought experiment, what if self-driving trucks were introduced overnight, he asked.
“Would you do it if you put 2 million people on the street?” » asked Dimon. “This next job costs $25,000 a year, it’s about stocking the shelves.”
Businesses and governments need to start planning for this risk now, with ideas like providing assistance and training for displaced workers, he said.
“Society needs to think about what it wants to do if it becomes this kind of problem,” Dimon said. “Now is the time to start thinking about it.”
