US Banking Giant Boss Warns AI Threatens Jobs
Jakarta, CNBC Indonesia - The CEO of JPMorgan Chase, Jamie Dimon, warned on Tuesday that artificial intelligence (AI) could cause job losses in the US. The head of the largest US bank suggested that the government could create an incentive system for businesses to help reduce its impact.
“If it suddenly causes unemployment, that is a big problem for society,” said Dimon, quoted from CNBC, Wednesday (25/3/2026).
He made the remarks during a panel with Palantir’s head of defence and former US House member Mike Gallagher at the Hill and Valley Forum in Washington.
“I don’t know the answer yet, but I would suggest the following: It can’t just be the government. It has to be business,” said Dimon.
According to him, the US government could create an incentive system so that businesses do the right thing to retrain people, offer early retirement, or relocate workers.
“If we have the right system, we can accommodate it much faster,” Dimon stated.
He warned that the AI-driven economic changes would happen quickly, possibly even faster than other recent technological advances that have disrupted the economy and displaced workers, such as the internet. Dimon said this is coming, and it will come quickly.
“This one might be faster… so, can we accommodate people if they lose their jobs quickly enough? And the answer is, I don’t know if that will happen, [but] I always want to be prepared,” he said.
The warning about job losses due to AI is the latest from Dimon, who has taken steps within JPMorgan Chase to shift employees to new roles amid accelerating automation. Major banks have moved to reduce hiring as AI continues to develop.
The potential for AI to disrupt the labour market has become a key issue in Washington, with some lawmakers proposing efforts to monitor or limit the number of job losses due to AI.
Senator Josh Hawley and Mark Warner introduced a bill requiring large companies and the federal government to report quarterly on job losses due to AI.
The White House’s new AI policy framework urges Congress to develop legislation to support workers in the AI transition.