As artificial intelligence reshapes global banking, JPMorgan Chase is moving ahead with major workforce adjustments. CEO Jamie Dimon confirmed at an investor meeting that the bank is already rolling out “huge redeployment plans” for employees as part of its broader AI strategy.
Despite rapid AI adoption, the bank’s overall headcount has remained largely steady at 318,512 over the past year. However, workforce composition has shifted. Operations staff declined by 4%, while support roles fell by 2%. In contrast, client-facing and revenue-generating roles grew by 4%.
Productivity gains from technology
JPMorgan said its technology investments are delivering measurable results. Operations employees now manage 6% more accounts than before. Fraud-related costs per unit have reduced by 11%. Software engineers have become around 10% more efficient due to improved tools and systems.
Expansion of generative AI
Chief Financial Officer Jeremy Barnum stated that the bank’s use of generative AI has doubled this year. Adoption has increased significantly in customer service and internal technology teams.
The bank uses AI models from OpenAI and Anthropic through its proprietary platform. Dimon emphasized that the goal is to improve customer service, even as concerns grow about the impact of AI on jobs.
Societal concerns
Dimon has often compared AI’s potential to electricity and the printing press. At the same time, he warned that uncontrolled adoption could lead to job losses across entire professions. Referring to autonomous trucking, he questioned whether society would accept putting 2 million people out of work due to technological progress.
The developments signal JPMorgan’s effort to balance innovation with workforce stability as AI continues to transform the financial sector.
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