JP Morgan CEO Jamie Dimon stated that the rise of artificial intelligence (AI) will redefine work-life balance, potentially reducing employees’ work hours from five days a week to just three and a half days.
In an interview with Bloomberg TV, Dimon envisioned a future where AI advancements not only allow people to live up to 100 but also promote healthier and longer lives for everyone.
While Dimon has long been a proponent of traditional career values, such as hard work and in-office presence, as reported by Business Standard, he encouraged people to embrace the upcoming changes with AI. He commented, “With the help of technology, your children are expected to live to 100 without facing cancer, and they’ll likely only work three and a half days a week.”
JP Morgan has already implemented AI across several functions, including trading, hedging, research, and error detection. Dimon referred to AI as a ‘living, breathing thing’ that will evolve and eventually transform both business practices and societal standards.
Despite concerns over AI potentially replacing jobs, with Goldman Sachs estimating up to 300 million jobs could be lost globally, Dimon remains positive. He remarked, “People need to pause and reflect. While technology has historically replaced jobs, it has also created new opportunities and significantly improved our quality of life.”
A recent McKinsey report highlighted that generative AI and other emerging technologies could automate 60 to 70 percent of employees’ tasks, contributing $2.6 trillion to $4.4 trillion annually to the global economy. This shift could lead to shorter workweeks as tasks requiring human oversight become more efficient.
