JPMorgan Plans More AI Hires and Fewer Bankers, Dimon Says

JPMorgan Chase will likely hire more artificial intelligence specialists while reducing its number of traditional bankers, CEO Jamie Dimon said, outlining a workforce shift driven by the accelerating adoption of automation technology. Dimon made the remarks during an interview at the bank's China Summit in Shanghai.

Dimon stated that while new types of jobs will be created, the bank anticipates hiring more AI personnel and fewer bankers in certain categories, a move he said would enhance productivity. He acknowledged that this transition will ultimately reduce the bank's total number of jobs. JPMorgan plans to manage this change gradually, leveraging its annual employee attrition rate of approximately 10 percent, which affects 25,000 to 30,000 workers. The CEO suggested strategies such as retraining staff, redeploying workers internally, and offering early retirement packages as alternatives to large-scale layoffs.

The comments reflect a broader industry trend as global banks increase investments in artificial intelligence, reshaping their workforces and altering job roles. This week, Standard Chartered announced plans to eliminate 7,000 jobs over four years, citing a strategy...