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At the World Economic Forum (WEF) in Davos, JP Morgan CEO Jamie Dimon shared his views on technology, economic policy and geopolitics. He also shared insights on how the bank is using artificial intelligence, along with his views on the current US administration’s policies.
Talking about AI, Dimon said JP Morgan has implemented 500 use cases of the technology and that around 1,50,000 employees are now using the company’s internal large language models. According to Investing.comthe 69-year-old went on to say that he believes that AI will help improve overall efficiency and that it will change the way customers currently interact with their banks.
“We have use cases in risk, fraud, marketing, errors, customer service, idea generation, and hedging. It’s used extensively in credit everywhere,” Dimon said at the World Economic Forum in Davos. He also believes that because of AI, banks will have fewer jobs in five years that it does now.
On geopolitics, Dimon said he looked forward to a stronger NATO and a more cohesive European Union, arguing that a unified West would give both the US and Europe a clear strategic edge. He also praised the Donald Trump administration’s border control efforts and, while stopping short of directly criticising the US government, said that “we should calm down a little bit on the internal anger about immigration.”
In 2025, a lot of tech companies, including the likes of Amazon, Google, Meta and others, laid off thousands of employees due to artificial intelligence. With the banking sector now integrating the technology into its workflow, the same is expected to happen in the sector in the coming years.
