America's most influential banker shares brutal reality of AI impact on jobs in next 5 years

Artificial intelligence could be significantly changing the job market very soon, according to the CEO of JP Morgan.

With the rise of the latest generation of artificial intelligence, people are rightly concerned about whether their jobs will even exist as time goes on.

While some jobs are predicted to have a longer time in the sun before they are taken out of the game entirely, others are seemingly on their last legs.

One of the most influential bankers in the world has candidly spoken about just how much this generation of AI is changing the workforce and how companies need to adapt going forward.

JPMorgan Chase & Co. CEO Jamie Dimon insisted that the company has been using AI, in some form or another for over a decade, and it has been beneficial to them in loads of different ways.

Speaking on Bloomberg Television to reporter Tom Mackenzie in a new interview, he said the company has been using AI since 2012 and that it has been used as a tool in risk, fraud, marketing and idea generation.

CEO Jamie Dimon admitted that jobs would be impacted by AI very soon (Bloomberg Television)

While it has been beneficial for the company, he did note that this new generation of AI will spark some significant impacts on the job market in the coming years.

Mackenzie asked: “If you look out five years, are there more jobs in banking as a result of AI or fewer?”

Dimon’s response might be concerning to anyone hoping to jump into the banking sphere in the next couple years.

He replied: “I think people shouldn’t put their heads in the sand, it is going to affect jobs.

“So think of every application, every service you do, you’ll be using AI sometimes to enhance it, sometimes it will be you doing the same job, doing a better job at it.

“There will be jobs it eliminates.”

However, Dimon noted that it was important to be ahead of the curve and to then focus on retraining people.

There are many fears across multiple industries that AI will replace many jobs ( KIRILL KUDRYAVTSEV/AFP via Getty Images)

He continued: “We retrain and redeploy a lot of people so for JP Morgan, we are successful, we’ll have more jobs, but there will probably be less jobs at certain functions.”

While many jobs are likely to change as technology continues to develop, figures like Bill Gates have also noted that some jobs will likely survive and could potentially become more valuable in the future.

He concluded that the likes of coders, biologists, and energy experts may be impervious to the AI purge.

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