AIThe Next Webabout 2 hours ago
AI cut 30-40% of jobs at some JPMorgan units
1 min read
JPMorgan Chase CEO Jamie Dimon said AI eliminated 30 to 40 percent of jobs in some bank divisions. Competitive dynamics prevent margins from growing as savings flow to customers. The bank runs nearly 1,000 AI use cases and 150,000 employees use an internal large language model weekly.
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