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JPMorgan Chase CEO Jamie Dimon predicted that the growth of AI will lead to work weeks in the developed word shortening to three and a half days. “It’s going to affect every application, every job, every customer interface,” Dimon said about AI at the America Business Forum in Miami on Thursday. “My guess is the developed world will be working three and a half days a week in 20, 30, 40 years, and have wonderful lives.” Why It Matters Dimon joins a growing chorus of high-profile business leaders who have expressed optimism that artificial intelligence could transform productivity and potentially shorten the modern workweek. However, the question of pay rates for doing the same or more work in a shorter time remains a mystery. What To Know Dimon predicts that as AI takes over routine tasks, humans will need to work fewer hours to achieve the same level of productivity. The CEO acknowledged that integrating AI will bring challenges, warning that job losses are inevitable. However, he described it as another technological revolution that governments and companies must meet with strategies for retraining and redeploying workers. “It will eliminate jobs. I think people should stop sticking their heads in the sand. So did tractors, and so did cars,” he said. Under Dimon’s leadership, JPMorgan has grown its incorporation of AI systems, with 150,000 employees using them and 2,000 people building them. He previously said at the Fortune Most Powerful Women Summit that he believes using AI has benefited JPMorgan Chase by between $2- $2.5 billion in either saved costs or revenue enhancements. The CEO encouraged companies to invest in AI systems to improve their productivity. “Use it. Get good at it. Make it part of your tool set, your weapon set, and you’ll learn. It’ll get better all the time, your management will get better. And you should do it, in any business,” Dimon said. What People Are Saying Microsoft founder Bill Gates said about AI on Jimmy Fallon’s Tonight Show in February: “It brings with it kind of so much change. You know, what will jobs be like? Should we, you know, just work like two or three days a week? So I love the way it’ll drive innovation forward, but it’s a little bit unknown.” Zoom CEO Eric Yuan told the New York Times in September: “I feel like if A.I. can make all of our lives better, why do we need to work for five days a week? Every company will support three days, four days a week. I think this ultimately frees up everyone’s time.” What Happens Next
