Jamie Dimon warns that artificial intelligence will reduce the number of bankers on Wall Street

JPMorgan Chase is on the brink of a significant transformation of the workforce, amid the advancement of artificial intelligence in the financial sector. CEO Jamie Dimon stated that the bank will hire more AI specialists, to the detriment of traditional bankers, emphasizing that technology will change the structure of jobs, increasing productivity.

Dimon mentioned that, although AI will reduce the number of jobs, the transition will occur through natural staff fluctuations, retraining, and anticipated retirements. JPMorgan has an annual turnover rate of about 10%, which gives it flexibility in reorganizing the workforce. This topic has been widely discussed in the banking sector, with other executives highlighting the impact of automation on jobs.

Estimates suggest that by 2030, approximately 30% of working hours in the financial sector could be automated, and a Citigroup report indicates that more than half of jobs in the banking system are likely to be replaced or transformed by technology.