JP Morgan Chief Says Bank Will Hire More AI Specialists and Fewer Bankers

The chief executive of JP Morgan said the bank will recruit more artificial intelligence specialists and fewer dealmakers as automation increases. Jamie Dimon, chief executive of JP Morgan, said in an interview with Bloomberg that the bank expects to hire more AI specialists and fewer bankers in certain categories. He added that the technology will make existing staff more productive.

Dimon’s remarks follow similar statements by other bank leaders about using AI to reduce headcount. One bank announced plans to cut almost 8,000 back-office roles, while another is weighing cuts of 20,000 jobs globally. Dimon said banks and society should prepare for workforce changes and support affected employees.

He noted that the shift cannot be stopped but can be managed. A separate survey by Deutsche Bank last year found younger workers expressed higher concern about AI replacing jobs than older colleagues. Twenty-four percent of respondents aged 18 to 34 rated their concern at 8 or higher on a 0-to-10 scale, compared with 10 percent of those aged 55 and above.