Burgeoning AI tools from companies like OpenAI still have their share of skeptics, but they're not counted out C. B. Morgan Chase CEO Jamie Dimon is among them.
AI isn't just a passing fad and is bigger than just big language models like Chat GPT, the Wall Street giant told CNBC's Leslie Picker on Monday. He compared the current moment favorably to the tech bubble of the early 2000s, when investor enthusiasm seemed to precede actual changes.
“This is not hype. This is real. When we had the dot-com bubble the first time… that was hype. This is not hype. This is real,” Dimon said. “People use it at different speeds, but it will handle a huge amount of stuff.”
JPMorgan has been working on the ability to use new technologies internally, with Dimon saying that AI “will eventually be used in almost every job.” JPMorgan created a new chief data and analytics officer role last year, in part to address artificial intelligence.
Dimon said Monday that there are 200 people at JPMorgan conducting research on large language models that technology companies have recently rolled out.
While acknowledging the potential for AI to be used by bad actors, Dimon described himself as “very optimistic” about the emerging technology, pointing to cybersecurity and pharmaceutical research as areas where it could be useful.
“He may invent treatments for cancer because he can do things that the human mind cannot do,” Damon said.
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