Jamie Dimon who called Bitcoin a ‘pet rock’ says AI is ‘very real’

Artificial intelligence is not a “fad” and will eventually “be used in almost every job”, says Jamie Dimon – the chief executive of JPMorgan Chase & Co (NYSE: JPM).

Dimon’s remarks on artificial intelligence

Last month, the Wall Street titan called Bitcoin a “pet rock that does nothing” as Invezz reported here.

But he apparently has an entirely different view on AI. In an interview with CNBC on Monday, Dimon said:

In 2023, JPMorgan partnered with TIFIN to explore the potential of artificial intelligence in financial services. Note that Statista forecasts the AI market to grow some tenfold by 2030.  

JPMorgan is serious about AI

Dimon’s comment arrives months after JPMorgan created a new executive role that it called the chief of data and analytics – aimed primarily at AI.

The financial services behemoth currently has about 200 of its employees conducting research on LLMs, the chief executive revealed on Monday.

CEO Jamie Dimon, who recently sold one million shares of JPMorgan Chase & Co, is particularly optimistic on what artificial intelligence can deliver for cybersecurity and pharmaceutical research. During his interview with CNBC today, he also said: