CEO of America's largest bank Jamie Dimon says: We have displaced people for AI, and we offer them ...
Times of India
by TOI TECH DESKFebruary 26, 2026
AI-Generated Deep Dive Summary
Jamie Dimon, CEO of JPMorgan Chase, has called on businesses and governments to prepare for the potential labor disruptions caused by artificial intelligence (AI). Speaking at an event, Dimon emphasized the need to address AI-related job losses proactively rather than waiting for them to materialize. He highlighted that while AI could lead to significant productivity gains, it also poses risks of job displacement. JPMorgan itself has already integrated AI into its operations, deploying a large language model used by 150,000 employees weekly and acknowledging that AI could reduce the need for hiring in the coming years.
Dimon revealed that while the bank has redeployed workers displaced by AI into other roles, society must be prepared for broader impacts. He warned of the severe consequences if AI-driven job losses occur too quickly, using autonomous vehicles as an example. The replacement of 2 million U.S. truck drivers could save lives and costs but would also devastate livelihoods. He suggested a phased approach to AI adoption, allowing time for adaptation, and even proposed considering bans on mass AI layoffs if necessary to protect workers.
Dimon also called for governments to incentivize retraining programs to help workers adapt to technological changes. Despite his cautionary tone, he acknowledged the transformative potential of AI, with JPMorgan positioning itself as a leader in integrating AI into its operations. He underscored that while technology presents opportunities, it also brings risks, requiring careful navigation by businesses and governments alike.
This issue matters globally as AI adoption accelerates across industries, potentially reshaping labor markets worldwide. Dimon’s remarks highlight the need for proactive measures to mitigate negative impacts on workers, ensuring that technological progress benefits society as a whole. His perspective, coming from one of the world’s largest financial institutions, underscores the urgency of addressing AI-related challenges before they escalate.
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Originally published on Times of India on 2/26/2026