JPMorgan Chase released its 2025 annual report today, including letters to shareholders from senior executives. In his letter, chairman and CEO Jamie Dimon shared his thoughts on artificial intelligence (AI) and the company’s plans to embrace it.
Dimon argued that the pace of the adoption of AI is unlike that of other technologies that came before, like electricity and the internet. While the technology is “transformational,” he cautioned that no one can predict how exactly AI will unfold.
“People will live longer and safer”
His overall outlook is optimistic. Dimon says he believes that AI will improve many areas of daily life and business.
“AI will affect virtually every function, application and process in the company. And in the long run, it will have a huge positive impact on productivity,” he wrote.
“I do not think it is an exaggeration to say that AI will cure some cancers, create new composites and reduce accidental deaths, among other positive outcomes,” he continued. “It will eventually reduce the workweek in the developed world. And people will live longer and safer.”
He also acknowledged that AI will eliminate some jobs. According to Dimon, JPMorgan is committed to having a plan to support and redeploy affected workers.
Will we really get shorter workweeks?
Dimon’s commentary echoes beliefs he has shared before.
In a March 31 CBS News interview, Dimon noted that he predicts AI will make the world more productive and safer.
He further shared his belief that 30 years from now, most people will be working 3.5 days a week, and they’ll live healthier, longer lives as a result of AI-driven productivity.
In the same interview, Dimon acknowledged the risks of rapid AI adoption. He noted that it’s important for the government and businesses to come up with solutions for potential risks.
Predictions like this are nothing new. Decades of technological advances have come with the promise of more leisure time, although that promise has not always been realized.
In recent history, prominent business leaders have made similar predictions. Microsoft cofounder Bill Gates and Zoom CEO Eric Yuan have both argued that AI will shorten the typical workweek by making employees significantly more productive.
Leaders like Mark Cuban have argued that reduced hours shouldn’t lead to reduced pay.
In a March 22 tweet, Cuban said, “Smart, bigger companies will enable their employees to create and use agents (within security guardrails), improve their productively but MOST IMPORTANTLY, they will reduce their work day by an hour to start. Same pay.”
Work has a way of piling on
As many company leaders rush to adopt AI while championing its benefits, a recent Harvard Business Review study found that AI didn’t reduce work; it only intensified it.
The eight-month study identified several ways the technology is putting more pressure on employees. Workers using AI are now handling more tasks throughout the day, and many are spending additional time reviewing and correcting AI-generated work.
The study also found that the boundaries between work and non-work time are becoming more blurred. Many workers reported squeezing in extra prompts during breaks and lunch or queuing up tasks before stepping away so AI could work in their absence.
AI results in more multitasking, too. But the ability to juggle more tasks simultaneously raised expectations for speed and output, leaving many employees feeling more pressure, not less.