JPMorgan Chase CEO Jamie Dimon has cautioned that artificial intelligence could reshape the U.S. labor market faster than past technological shifts, urging both business and government to develop systems to help workers adapt, according to a CNBC report. His remarks came at the Hill and Valley Forum, a Washington, D.C.-based summit that brings together lawmakers, tech innovators, venture capitalists and industry leaders to bridge discussions between federal policy and Silicon Valley‑style innovation.
"[If] all of a sudden it creates unemployment, that's a big problem for society," Dimon warned.
"It can't be just government. It's got to be business. But the government could create a system of incentives that business does the right thing to retrain people, early retirement, moving people … if we have the right system in place, we can accommodate much quicker."
Dimon warned that AI-driven economic changes may unfold more rapidly than those caused by earlier innovations such as the internet.
"It's coming, it's going to come quickly. This one may be quicker ... so therefore, can we accommodate the people if they lose their jobs quick enough? And the answer is, I don't know that's going to happen, [but] I always like to be prepared," he said.
The CEO's comments reflect JPMorgan's internal approach to AI's workforce impact. The bank has implemented redeployment plans, shifting employees into new roles rather than reducing overall headcount. Positions affected by automation are being phased into areas focused on client engagement, revenue generation and other roles that leverage uniquely human skills.
Lawmakers and regulators in Washington are increasingly focused on AI's labor implications. Several bills have been introduced requiring companies and federal agencies to report AI-related job losses and the White House released a national policy framework for AI this month, urging Congress to support workforce development, streamline federal AI regulations and foster innovation.
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