{"id":596204,"date":"2026-05-21T13:13:08","date_gmt":"2026-05-21T13:13:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/596204\/"},"modified":"2026-05-21T13:13:08","modified_gmt":"2026-05-21T13:13:08","slug":"jp-morgan-boss-ai-will-mean-bank-hires-fewer-dealmakers","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/596204\/","title":{"rendered":"JP Morgan boss: AI will mean bank hires fewer dealmakers"},"content":{"rendered":"

The boss of JP Morgan said the Wall Street bank will hire more artificial intelligence specialists and fewer dealmakers amid increasing automation in the financial system.<\/p>\n

Jamie Dimon, chief executive of JP Morgan, raised the prospect of a greater focus on AI hires as global banks are using the technology to cut tens of thousands of jobs.<\/p>\n

In an interview with Bloomberg, Dimon said: \u201cI think it will reduce our jobs down the road. There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers<\/a> in certain categories, and it will make them more productive.\u201d<\/p>\n

Dimon\u2019s comments came after Bill Winters, the boss of Standard Chartered, faced a backlash<\/a> among shareholders, employees and the former president of Singapore for saying the bank would use AI to replace \u201clower-value human capital\u201d. Dimon said Winters is \u201ca friend of mine\u201d and that \u201call of us say something incorrectly\u201d, adding: \u201cHe\u2019s already come back and taken that back. It was an inartful way to say something.\u201d<\/p>\n

Winters made the comments as he revealed plans to cut almost 8,000 back-office roles<\/a>. Meanwhile, Georges Elhedery, chief executive of HSBC, has said the bank must ensure its workforce does not become \u201cdisenfranchised\u201d as it uses AI to streamline administrative functions and weighs up plans to cut 20,000 jobs globally.<\/p>\n

Dimon said: \u201cI do think it\u2019s incumbent upon us, society, to think through if it happens too fast, what do we do about it? You aren\u2019t going to stop it all, you know. And you can talk all you want, do the work, get prepared, take care of your people, take care of society, and I think we\u2019ll be ok.\u201d<\/p>\n

Deutsche Bank conducted research last year that found younger workers were concerned about AI, but that their older colleagues \u201caren\u2019t bothered\u201d by machine learning developments in Silicon Valley.<\/p>\n

The German lender\u2019s research division conducted a survey of 10,000 people, asking them to rate their level of concern about losing their job to AI on a scale of 0 to 10. Its survey found 24 per cent respondents aged between 18 and 34 gave a score of 8 or more, as compared to just 10 per cent aged 55 and above.<\/p>\n

In a note, Deutsche Bank\u2019s analysts said: \u201cThe findings revealed a generational and geographical gap in adoption and trust, strong demand for AI training, and workers\u2019 efforts to educate themselves.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"The boss of JP Morgan said the Wall Street bank will hire more artificial intelligence specialists and fewer…\n","protected":false},"author":2,"featured_media":596205,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[554,733,4308,86,56,54,55],"class_list":["post-596204","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-technology","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/596204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=596204"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/596204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/596205"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=596204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=596204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=596204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}