'Wall Street Emperor' Dimon: "AI Is Not Overhyped... This Is Real"

Jamie Dimon, chairman of JP Morgan Chase, known as the "Emperor of Wall Street," stated on the 26th (local time) that artificial intelligence (AI) is not merely hype like the past IT bubble, but "real."

[Image source=Reuters Yonhap News]

In an interview with economic media CNBC on the same day, Dimon said, "When the IT bubble first occurred, it was hype," adding, "But this (AI) is not hype; it is real." He predicted, "People are spreading AI at a different pace, but AI will handle an enormous amount of work."

Ultimately, Dimon’s assessment is that AI will inevitably be applied to most tasks. JP Morgan, which he leads, has recently been working internally on AI applications. Last year, the company created a new role called Chief Data and Analytics Officer to partially implement AI. He also added that about 200 employees at JP Morgan are currently conducting research related to large language models recently released by technology companies.

While Dimon acknowledged that AI could be misused by those with malicious intent, he considers himself an AI optimist. He specifically expects AI to assist in areas such as cybersecurity and pharmaceutical research. He said, "It will accomplish things humans simply cannot," and added, "It might even invent a cure for cancer."

This content was produced with the assistance of AI translation services.