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Jamie Dimon stated that AI is a “living and evolving technology,” which has the potential to change business processes.
AI is predicted to affect 300 million jobs globally.
The co-founder of Infosys Narayana Murthy has been infamously grabbing headlines for his controversial words about work culture, where he advised the youngsters to work 70 to 80 hours per week. Now, another prediction has been made by a man named Jamie Dimon, according to which the future generations could enjoy fewer work days because of AI advancement. Jamie Dimon, the CEO of JP Morgan, is of the belief that artificial intelligence will be revolutionising work in the coming time. According to him, it could reduce the tenure of employees from 5 days a week to 3.5 days a week. He added that with advancement of AI, the lifespan of humans will increase to 100 years and the lifestyle would be healthier. In an interview, Dimon stated that AI is a “living and evolving technology,” which has the potential to change business processes and societal standards over time. Damien has already incorporated it in his company, JP Morgan’s operations. The reports add that in the banking and financial sector, AI is being used in tasks like trading, hedging, research and error detection. With AI, the companies will not only be able to reduce costs but it would also make the processes more efficient.
Since the gradual prevalence of Artificial Intelligence, it has sparked widespread concern about replacing human and eventual job losses. According to a report, AI can affect around 300 million jobs worldwide. Around 25 percent of employees in the US are worried that this technology could have an impact on their jobs.
Dimon stated, “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 will probably be working three and a half days a week.” As per a recent McKinsey report, generative AI and other emerging technology could automate 60 per cent to 70 percent employee tasks.
