Imagine a future where you only have to work three and a half days a week – that’s it JPMorgan Chase CEO Jamie Damon believes that is possible with the arrival of Artificial intelligence (AI) Jamie Damon Maintains an optimistic view on the impact of AI on the workforce.
Despite advocating traditional workplace values such as diligence, preparation and office attendance, US business leaders suggest that the workforce of the future may benefit from reduced work hours due to the implementation of AI.
Contrary to predictions of widespread job losses, he emphasizes that technology is enhancing business operations and improving employees’ work-life balance, ET reports The Fortune. is
Dimon expects a significant reduction in work hours, suggesting that employees will need only three and a half days a week, as AI can automate 60% to 70% of existing tasks. He projects that with shorter work weeks, future employees may enjoy longer lives.
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“Your kids will live to be 100 and not get cancer because of technology,” Damon said in an interview on Bloomberg TV. “And literally they would be working three and a half days a week.”
As America’s largest bank, JPMorgan has already applied AI to a variety of tasks, including error detection, trading, research and hedging. Dimon described AI to Bloomberg TV as a “living, breathing thing” that will evolve throughout history.
While concerns about AI replacing human workers remain, with Goldman Sachs predicting about 300 million job losses globally, Damon emphasizes society’s historical ability to adapt to technological change. He highlights the substantial opportunities for improving the quality of life through AI and large language models.
According to a McKinsey report last year, employees can reduce their work hours through AI-powered automation of certain tasks.
The billionaire chief executive of JPMorgan Chase acknowledged that some roles will be disrupted by the implementation of AI. However, with regard to JP Morgan Chase Specifically, Dimon hopes to “redeploy” any staff whose positions are affected by AI.