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JPMorgan's Jamie Dimon: AI Cost Saving Matching Money Spent
Posted
October 7, 2025
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October 7, 2025
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15:08
6:32Now PlayingJamie Dimon said JPMorgan Chase & Co. spends $2 billion a year on developing artificial intelligence technology, and saves about the same amount annually from the investment.
“We know that it’s got to billions of cost savings and I think it’s the tip of the iceberg,” the bank’s chief executive officer said Tuesday in a Bloomberg TV interview.
Dimon has consistently touted the opportunities offered by AI, even if it eliminates some jobs. He has said his bank already has hundreds of use cases for the technology, which will likely grow, and has touted its ability to help humans cure cancer and move to shorter work weeks.. Bloomberg's Sri Natarajan joined Carol Massar and Tim Stenovec on 'Bloomberg Businessweek Daily' to break down Dimon's comments.
In a letter to shareholders last year, Dimon likened AI technology to the “printing press, the steam engine, electricity, computing and the internet.”
The New York-based bank has thousands of employees working on AI, and Dimon has said previously that the technology will be embedded in every one of the company’s processes, including trading, research, equity hedging and customer service, often as a sort of co-pilot.
AI is likely to make dramatic improvements in workers’ quality of life, but as with every new technology, some jobs will also be lost, Dimon said in the letter.
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