JPMorgan CEO Jamie Dimon says the biggest danger from artificial intelligence relates to the exponential speed of its development.
In an interview with Al Arabiya, Dimon says US tech firms may need to slow down the development of AI systems if deployment races ahead of economic and social capacity, warning that unmanaged acceleration could create a wave of massive job loss.
“The only risk is that it happens too fast for society, in which case we need to adjust, that government and business should say, ‘Okay, let’s slow down the development of this.'”
Dimon warns that the AI cycle is moving faster than prior industrial revolutions.
“I think the AI is huge. It is going to transform a lot of different things. It’s much faster than the internet. I mean, it’s going to be developed faster than the steam engine. Then there are other things. Some of the electricity, some of those things took a long time to put the lines in to make electricity available to people in a country.”
Amid the rapid development of AI systems, the JPMorgan CEO says job disruption is inevitable, but frames the shift as part of a broader productivity boom that supports innovation, investment and wealth creation.
“It may eliminate some jobs but my view is let’s retrain people and redeploy them and income assistance and we’re going to be fine.”
Over the long arc of time, Dimon says AI will pay off, allowing future generations to spend more time on family, creativity and science.
“I really believe this, like in 30, 40 years, you know, my grandkids will be working three and a half days a week… It’ll cure a lot of cancers. It’ll come up with stronger materials. It’ll eliminate a lot of crashes and plane crashes.”
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