Working 3.5 Days a Week a Reality? JP Morgan CEO Answers

JP Morgan CEO Jamie Dimon said that artificial intelligence is set to enhance work-life balance, thereby reducing workweeks to 3.5 days in the near future. Though the transition may lead to job displacement, we should choose to stress on the historical benefits of technology, he added.

He said, “People have to take a deep breath. Technology has always replaced jobs. Your children are going to live to 100 and not have cancer because of technology, and literally, they’ll probably be working three and a half days a week.”

Dimon’s take on job loss from AI replacement

While agreeing on the disruptions caused due to the AI revolution, Dimon expects to absorb the displaced employees in another role, Fortune reported.

While comparing JPMorgan’s acquisition of First Republic in 2023, Dimon stated, “At First Republic we’ve offered jobs to 90 per cent of people. They accepted, but we also told them some of those jobs are transitory. But we hire 30,000 people a year, so we expect to be able to get them a job somewhere local in a different branch or a different function if we can do that. We’ll be doing that with any dislocation that takes place as a result of AI.”

Dimon’s take on misuse

Dimon said that the technology could be a bane if ‘used by bad people’. He said, “Technology has done unbelievable things for mankind, but you know, planes crash, and pharmaceuticals get misused—there are negatives. This one, the biggest negative in my view, is AI being used by bad people to do bad things. Think of cyber warfare.”