Jamie Dimon, the boss of JP Morgan, has said artificial intelligence \u201cmay go too fast for society\u201d and cause \u201ccivil unrest\u201d unless governments and business support displaced workers.<\/p>\n
While advances in AI will have huge benefits, from increasing productivity to curing diseases, the technology may need to be phased in to \u201csave society\u201d, he said.<\/p>\n
Dimon said companies and governments could not ignore AI or \u201cput your head in the sand\u201d. The Wall Street lender would probably have fewer employees in five years\u2019 time as it rolled out AI, he told an audience at the World Economic Forum<\/a> in the Swiss resort of Davos.<\/p>\n \u201cYour competitors are going to use it and countries are going to use it,\u201d he said. \u201cHowever, it may go too fast for society and if it goes too fast for society that\u2019s where governments and businesses [need to] in a collaborative way step in together and come up with a way to retrain people and move it over time.\u201d<\/p>\n Dimon said local governments may need to use assistance programmes that supported wages and offered retraining, relocation and early retirement.<\/p>\n The 2 million commercial lorry drivers in the US were an example of an area that may need support as driverless trucks hit the road, he said.<\/p>\n \u201cShould you do it all at once, if 2 million people go from driving a truck and making $150,000 a year to a next job [that] might be $25,000? No. You will have civil unrest. So phase it in,\u201d Dimon said.<\/p>\n \u201cIf we have to do that to save society \u2026 Society will have more production, we are going to cure a lot of cancers, you\u2019re not going to slow it down. How do you have plans in place if it does something terrible?\u201d<\/p>\n