Artificial Intelligence: The Revolution That Changes Our Way of Life

Jamie Dimon, the CEO of JPMorgan Chase, recently expressed confidence that artificial intelligence (AI) will sustainably improve our world. In an interview with Bloomberg, he painted an optimistic picture of the future, in which our children could live up to 100 years, free from diseases like cancer and with shorter work weeks. Dimon predicts that AI could reduce the average work week from five days to just three and a half. At JPMorgan, the technology is already increasing efficiency in areas from trading to research, and this development will continue across industries. Future generations could thus enjoy more time outside of work while AI takes care of monotonous tasks. Beyond balancing work hours, technological advances, facilitated by AI, could drastically extend our lifespan and eliminate serious illnesses, according to Dimon. JPMorgan currently engages 2,000 people in 400 different AI initiatives. The impact of AI ranges from payment optimization to fraud prevention and is crucial for the company's success. Dimon also dispels the common fear of job loss due to AI. While the technology may replace some jobs, it will also create numerous new ones. Historical examples like steam power and the Internet show that technological advancements displaced old roles but also created new ones. According to Dimon, companies like JPMorgan must play an active role in supporting their employees whose jobs are threatened by AI. Retraining and redeployment of the workforce are the focus in order to fully exploit AI's potential as a "super assistant" without leaving the workforce behind.