AI To Make 3.5 Days Working Weeks Possible, Says JP Morgan CEO Jamie Dimon

Dimon predicted a future where AI advancement will allow people to live up to the age of 100 and technology will facilitate longer and healthier lives for all

However, there have been concerns regarding the possibility of technology displacing jobs as Goldman Sachs earlier estimated that AI could replace 300 million jobs across the world.

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JP Morgan CEO Jamie Dimon said that with the development of artificial intelligence (AI), work-life balance will be redefined. The executive said that AI will help employees reduce their working hours from five days a week to just three and a half days.

Speaking to Bloomberg TV, Dimon predicted a future where AI advancement will allow people to live up to the age of 100 and technology will facilitate longer and healthier lives for all.

Typically, the executive has been a vocal supporter of traditional career values such as hard work and working from office, reported Business Standard. However, he urged people to adapt the changes that will come along with AI and said, “Your children are going to live to 100 and not have cancer because of technology, and literally they’ll probably be working three and a half days a week.”

Notably, JP Morgan has already integrated AI into several operations such as trading, hedging, research, and error detection. The executive said that AI is a ‘living, breathing thing’ and it will evolve over time and transform business practices and societal norms.

However, there have been concerns regarding the possibility of technology displacing jobs as Goldman Sachs earlier estimated that AI could replace 300 million jobs across the world.

In the US, about a quarter of the workforce has expressed worries about losing their jobs to AI. 

Meanwhile, Dimon remained optimistic about the role to be played by AI. “People have to take a deep breath. Technology has always replaced jobs. But it’s also created new opportunities and improved our quality of life,” he added.

Notably, a McKinsey report lately suggested that generative AI and emerging technologies could result in the automation of 60 per cent to 70 per cent of employees’ tasks, and add $2.6 trillion to $4.4 trillion to the global economy annually. This change can result in shorter working weeks as tasks requiring human oversight become more streamlined.