Jamie Dimon, the CEO of JP Morgan, has warned that the rapid rollout of artificial intelligence could lead to societal unrest unless governments and businesses take steps to support displaced workers. Speaking at the World Economic Forum in Davos, Switzerland, Dimon argued that while AI holds vast potential benefits such as increased productivity and disease cures, its implementation may need to be slowed to ensure that society is not left behind.
Dimon pointed out that companies like his own are likely to experience significant job losses as they adopt AI technologies. In fact, he predicted that JP Morgan could reduce its workforce by a quarter in the next five years due to automation. However, he stressed that this process should be done gradually to avoid mass unemployment and civil unrest.
The banking executive cited the example of the US trucking industry, where driverless trucks are set to become increasingly common. If 2 million lorry drivers were suddenly replaced by AI systems, it could lead to significant economic disruption, with workers potentially facing a drastic reduction in their income from $150,000 to just $25,000. Dimon emphasized that such a sudden shift would inevitably result in widespread social discontent.
Dimon also spoke out against US President Donald Trump's increasingly divisive policies on immigration and Europe. He called for calm and restraint in addressing these issues, suggesting that "internal anger" should be managed through data-driven approaches to help identify those who have been wrongly detained by Immigration and Customs Enforcement (ICE) officers.
Furthermore, Dimon highlighted the critical role that migrants play in the US economy, particularly in healthcare, hospitality, and agriculture. He urged greater empathy towards these workers, many of whom are integral to the country's social fabric.
In contrast to Dimon's views on gradual AI adoption, Jensen Huang, CEO of Nvidia, took a more optimistic tone at the same Davos gathering. While acknowledging that labour shortages could arise from rapid AI deployment, he argued that this would be offset by job creation in fields such as energy, chip manufacturing, and infrastructure development.
Huang noted that the semiconductor industry was already driving significant growth and creating new employment opportunities. He emphasized that this trend would continue as countries invest heavily in building their digital infrastructures. According to Huang, Europe has a unique chance to leapfrog other regions by harnessing its industrial manufacturing base and creating jobs around AI systems.
Dimon pointed out that companies like his own are likely to experience significant job losses as they adopt AI technologies. In fact, he predicted that JP Morgan could reduce its workforce by a quarter in the next five years due to automation. However, he stressed that this process should be done gradually to avoid mass unemployment and civil unrest.
The banking executive cited the example of the US trucking industry, where driverless trucks are set to become increasingly common. If 2 million lorry drivers were suddenly replaced by AI systems, it could lead to significant economic disruption, with workers potentially facing a drastic reduction in their income from $150,000 to just $25,000. Dimon emphasized that such a sudden shift would inevitably result in widespread social discontent.
Dimon also spoke out against US President Donald Trump's increasingly divisive policies on immigration and Europe. He called for calm and restraint in addressing these issues, suggesting that "internal anger" should be managed through data-driven approaches to help identify those who have been wrongly detained by Immigration and Customs Enforcement (ICE) officers.
Furthermore, Dimon highlighted the critical role that migrants play in the US economy, particularly in healthcare, hospitality, and agriculture. He urged greater empathy towards these workers, many of whom are integral to the country's social fabric.
In contrast to Dimon's views on gradual AI adoption, Jensen Huang, CEO of Nvidia, took a more optimistic tone at the same Davos gathering. While acknowledging that labour shortages could arise from rapid AI deployment, he argued that this would be offset by job creation in fields such as energy, chip manufacturing, and infrastructure development.
Huang noted that the semiconductor industry was already driving significant growth and creating new employment opportunities. He emphasized that this trend would continue as countries invest heavily in building their digital infrastructures. According to Huang, Europe has a unique chance to leapfrog other regions by harnessing its industrial manufacturing base and creating jobs around AI systems.
. I mean, think about it - our jobs could literally disappear in an instant 
. Jamie Dimon's right that we need to slow down the adoption of AI or else society will be left behind 
. It's like, what's gonna happen to all those truckers who have spent their whole lives driving? They won't know what hit 'em 
. And it's not just them - I've got a friend who works in healthcare and she's always talking about how we're so short-staffed, but if AI comes along, that could be the final nail in the coffin for all those jobs 
.
. I just wish we could somehow make sure that everyone is included in the benefits of this whole AI thing 
. It feels like a really big responsibility on our shoulders, you know?
. It's not all about profits and growth, it's about people too. And can we please talk about the importance of empathy and understanding towards those who are already struggling? 
he's right we gotta think about the people who'll be affected by all this ai adoption 
it's not just about the benjamins, it's about making sure our society isn't left behind 
and yeah, let's get more empathy towards migrants they're literally the backbone of our economy 
like dimon said, they bring so much value to healthcare, hospitality, and agriculture 
but what about people who lose their job? I think Dimon's right, we gotta slow down AI adoption so workers can adapt 
. Can't just switch off truck drivers or nurses and expect everything to be fine 
. We need to support them, not just companies 
but let's not forget about the human impact 
.
? Migrants play such an important role in our economy too 
. We should be welcoming them, not just talking about 'internal anger' 
.
but let's not forget that job creation needs to happen now 
. Companies need to invest in retraining programs and stuff so workers can adapt to AI 
. Europe has a chance to lead on this, I hope they take it 
I mean JP Morgan's predicting huge job losses in the next 5 years? That's scary. We can't just sit back and let companies like Dimon decide who gets to work and who doesn't. 
It's time for governments and businesses to work together to make sure everyone benefits from AI advancements. We need a safety net for workers who might get left behind.