JPMorgan Chase CEO Jamie Dimon emphasizes that AI is not old news like he previously dismissed it as a “pet rock.” Instead, he recognizes it as real technology.
Jamie drew attention to AI innovations in the field of cybersecurity and pharmacology, which have turned AI into a valuable technology in the long term. He recognizes AI more as a “partner, rather than a competitor.” He now views AI more as a “partner, rather than a competitor.” He also added that it may help invent a cancer cure, as it can do more than humans.
During his interview with CNBC on Monday, Dimon said:
“When we had the internet bubble the first time around … that was hype. This is not hype. It’s real. People are deploying it at different speeds, but it will handle a tremendous amount of stuff.”
Last year JPMorgan collaborated with TIFIN as part of its interest to venture into AI services.
JPMorgan’s investment in AI is evident through the founder’s establishment of the “chief data and analytics role,” and research on large language models done by 200 employees. According to forecasts, AI is rapidly taking over major sectors and is predicted to grow further by 2030.
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