Emerging AI tools from companies like OpenAI still have some skeptics, but that doesn’t count JPMorgan Chief Executive Jamie Dimon is one of them.
The Wall Street titan told CNBC’s Leslie Picker on Monday that artificial intelligence is more than just a fad and more important than large language models like Chat GPT. He compared the current moment to the tech bubble of the early 21st century, when investor excitement seemed to outweigh actual change.
“This is not hype. This is real. When we first had the dot-com bubble… that was hype. This is not hype. This is real,” Dimon said. “People deploy it at different rates, but it can handle a lot of stuff.”
JPMorgan Chase CEO Jamie Dimon testifies during a hearing of the Senate Committee on Banking, Housing and Urban Affairs titled “Annual Oversight of Wall Street Firms” at Hart Tower on December 6, 2023.
Tom Williams | Cq-roll Call Inc | Getty Images
JPMorgan is already working on its ability to use the new technology internally, and Dimon said artificial intelligence will eventually be “used in almost every job.” JPMorgan created the new position of chief data and analytics officer last year, in part to address artificial intelligence.
Dimon said Monday that 200 JPMorgan employees are working on large-scale language models recently launched by technology companies.
While acknowledging that artificial intelligence can be exploited by bad actors, Dimon called himself an “optimist” about the emerging technology and cited cybersecurity and pharmaceutical research as areas where artificial intelligence can help.
“It could potentially invent cancer treatments because it can do things that the human brain simply can’t do,” Dimon said.
Don’t miss these stories from CNBC PRO:
