JPMorgan will hire more AI specialists, fewer bankers as AI takes over Wall Street
JPMorgan CEO Jamie Dimon said AI could eventually reduce traditional banking jobs, with JPMorgan likely to hire more AI specialists while using technology to make employees more productive.
The artificial intelligence wave is beginning to change not just Silicon Valley, but also the world of banking. As companies across industries cut jobs and restructure themselves around AI and leaner teams, JPMorgan Chase & Co. CEO Jamie Dimon has now openly acknowledged that the technology could reduce traditional banking jobs in the years ahead.
Speaking during a Bloomberg Television interview at the bank’s China Summit in Shanghai, Dimon said JPMorgan will likely hire more artificial intelligence specialists and fewer traditional bankers as AI adoption accelerates across the financial industry.
“I think it will reduce our jobs down the road,” Dimon said. “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.”
The comments come at a time when global companies are aggressively reshaping their workforces around AI tools and automation. Across the technology and finance sectors, firms are reducing layers of management, cutting operational roles, and investing billions into AI infrastructure and talent.
AI is already deeply embedded inside JPMorgan
Speaking at a company event in February, Dimon said JPMorgan employees are already using an internal Large Language Model, or LLM, across the organisation. According to him, around 1,50,000 employees access the system every week.
The veteran banker made it clear that JPMorgan has no intention of resisting the technology shift.
“We are not going to put our head in the sand,” he said at the time, signalling that the bank wants to stay ahead as AI rapidly changes financial services.
Dimon also argued that conversations around AI should move beyond simple optimism or fear. Instead, he urged companies and policymakers to start thinking seriously about difficult scenarios before problems emerge.
“I am not predicting it can be a problem,” Dimon said. “I am simply saying now’s the time to start thinking about what you do if it does.”
Productivity boom could mean fewer jobs
The JPMorgan chief has repeatedly warned that AI-driven productivity gains could eventually reduce the number of employees banks need.
He also reiterated those concerns at this year’s World Economic Forum summit, where global leaders debated how quickly AI could transform the job market.
According to Dimon, AI will not simply replace jobs outright, but will fundamentally change the structure of work itself. Some roles may disappear, while entirely new categories of jobs — especially AI-related positions — could emerge.