Jamie Dimon Says AI Will Touch Every Function at JPMorgan Chase
"The pace of adoption will likely be far faster than prior technological transformations, like electricity or the internet."
JPMorgan Chase CEO Jamie Dimon used his 2025 annual shareholder letter, published on April 6, 2026, to lay out his most detailed public assessment of AI to date.
He described the technology as transformational in scale, faster in adoption than any predecessor, and carrying consequences that will extend to the bank's workforce, its customers, and society at large.
"The importance of AI is real, and while I hesitate to use the word transformational, it is," Dimon wrote. "The pace of adoption will likely be far faster than prior technological transformations, like electricity or the internet. Those took decades to roll out, but this implementation looks likely to accelerate over the next few years."
He said AI will reshape operations at the largest bank in the United States across every layer of the business. "And in the long run, it will have a huge positive impact on productivity," he wrote
The letter comes as JPMorgan has committed to spending $19.8 billion on technology in 2026, up from $18 billion in 2025, according to Business Insider. Dimon said in October 2025 that the bank spends approximately $2 billion annually specifically on AI initiatives.
The firm currently has more than 200,000 employees using its internal LLM Suite and more than 100 generative AI solutions in production, according to JPMorgan's investor day presentation filed with the SEC.
Dimon did not limit his assessment to productivity gains. "AI will definitely eliminate some jobs, while it enhances others," he wrote. "Our firm will have definitive plans on how we can support and redeploy our affected workforce."
He also acknowledged the risks the technology introduces. "AI will also introduce serious new risks, from deepfakes and misinformation to cybersecurity vulnerabilities," he wrote.
Jamie called for rigorous preparation rather than reactive regulation, saying the worst mistakes companies and governments can make are either overreacting at the first serious incident or failing to learn from what goes wrong.
On the broader question of AI investment, Dimon pushed back against comparisons to past technology manias. "Overall, the investment in AI is not a speculative bubble; rather, it will deliver significant benefits," he wrote. "However, at this time, we cannot predict the ultimate winners and losers in AI-related industries."
Beyond banking, Dimon used the letter to describe what he sees as AI's long-term potential for human welfare. "I do not think it is an exaggeration to say that AI will cure some cancers, create new composites, and reduce accidental deaths, among other positive outcomes," he wrote.
He also called for governments and employers to build support systems for workers displaced by automation, framing it as a shared responsibility between industry and government rather than a problem for either to solve alone.