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JPM CEO Jamie Dimon says AI is reshaping workforce, bank plans ‘huge redeployment’

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Is AI behind the recent job cuts? Here's what to know

Jamie Dimon, chairman and CEO of JPMorgan Chase, attends the ribbon-cutting ceremony opening the firm’s new headquarters at 270 Park Ave., in New York, Oct. 21, 2025.

Eduardo Munoz | Reuters

JPMorgan Chase CEO Jamie Dimon said the bank is taking steps to address the impact of artificial intelligence on its workers, part of what he said should be a broader societal response to the potentially disruptive nature of AI.

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Dimon described at an investor meeting late Monday his bank’s internal plans to shift employees into new roles as automation accelerates.

“We already have huge redeployment plans for [our] own people,” Dimon said. “In fact, we spoke about it today, and we have to up that a little bit so we can take people who are displaced — and we have displaced people from AI — and we offer them other jobs.”

JPMorgan, the world’s biggest bank by market cap, has the industry’s largest annual tech budget at nearly $20 billion. Its executives have outlined an ambitious agenda to become “fundamentally rewired” for the AI era.

Even at this early stage, the bank’s workforce provides a snapshot of what happens when corporations employ AI technology, including models from OpenAI and Anthropic, which are both used by JPMorgan’s AI portal.

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The bank’s headcount was roughly unchanged at 318,512 over the past year, but there were changes below the surface: Operations and support staff fell by 4% and 2%, respectively, as the firm added 4% to roles that involve catering to clients and generating revenue.

It did that by using technology to boost the number of accounts that each operations employee can handle (up 6%), reducing the per-unit cost to deal with fraud (down 11%) and making their software engineers 10% more efficient, according to the bank’s presentation.  

JPMorgan has doubled the use cases for generative AI this year, focusing on customer service and the firm’s technology workers, Chief Financial Officer Jeremy Barnum said at the investor meeting.

A JPMorgan spokeswoman declined to elaborate on Dimon’s comments about plans for redeployment.

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Disruption risk

When an analyst on Monday asked if Dimon was concerned about the risk of widespread unemployment because of AI — one of several fears circulating as every AI model update seems to wallop the shares of public companies in recent weeks — Dimon had this response: “We are going to deploy AI as best we can to do a better job for our customers,” he said.

The CEO has previously likened the potential impact of AI to that of electricity or the printing press.

Beyond the “huge redeployment plans” for his bank, Dimon expressed concern that the rapid adoption of AI could put entire professions out of work.

As a thought experiment, what if autonomous trucks were introduced overnight, he asked.

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“Would you do it if you put 2 million people on the street?” Dimon asked. “That next job is $25,000 a year, stocking shelves.”

Businesses and governments need to begin planning for this risk now, with ideas including assistance and training for displaced workers, he said.

“Society’s got to think through what it wants to do if this becomes that kind of problem,” Dimon said. “Now is the time to start thinking about it.”

Is AI behind the recent job cuts? Here's what to know

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Cari Network launches tokenized deposit platform on ZKsync’s Prividium for US regional banks: Cari Network

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Cari Network launches tokenized deposit platform on ZKsync's Prividium for US regional banks: Cari Network

Cari Network is building a bank-governed tokenized deposit platform on ZKsync’s Prividium stack, offering US regional lenders an onchain payments rail with stablecoin-like speed and transferability.

Cari Network has selected ZKsync’s Prividium stack to build a bank-governed tokenized deposit platform aimed at US regional banks. The platform will enable regional lenders to offer customers tokenized deposits that function like stablecoins in terms of speed and transferability, while retaining the benefits of traditional banking and compliance.

Prividium is purpose-built for institutions requiring privacy, compliance, and full data control, offering user-level privacy, compliance tools, cross-chain connectivity, and Ethereum-grade security. The move reflects growing interest from traditional financial institutions in integrating blockchain-based payment rails and tokenized assets into their existing services.

Sources: ZKsync Prividium | Banking Exchange

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This article was generated automatically by The Defiant’s AI news system from publicly available sources.

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Argentina Blocks Polymarket as Crackdown on Prediction Markets Expands

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Crypto Breaking News

Court Orders Remedial Reflex

In Buenos Aires, a court directed regulators to impose tight controls of access. The telecom regulator ENACOM also liaised with the internet companies to shut down the site. Google and Apple were also asked to take the app out of their stores. The reason why these actions are taken is to restrict access to the users in the country.

This has caused regulators to tighten their belts due to apprehension caused by activity associated with inflation data. It was reported that the platform made predictions of Argentina’s inflation rate in February before it was officially released. Besides, authorities reported that the prediction was altered minutes before publishing. This chain of events triggered the need to further research how the platform functions.

Researchers came to the conclusion that the platform served as a web-based betting platform. Regulators also said it enabled the users to participate in wagering without licenses. Also regulators were worried about access by minors. These results resulted in even tougher steps to be taken against the platform.

Latin America’s Crackdown Continues

The move is in line with other actions taken by Colombia. Polymarket was later blocked in the country due to similar complaints raised against unlicensed gambling services. Therefore, Argentina became the second country to ban the platform in the region. Such a trend underscores the developing regional integration in the area of regulatory enforcement.

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Regulatory examination does not just end at Latin America; it extends to other markets. It has been reported that websites like Kalshi have been involved in court cases in the United States due to allegations of unregulated betting services. It has also been reported that unpaid wagers have been involved in cases of dispute that are associated with geopolitical activities. Regulators and legal authorities have paid more attention to such developments.

Polymarket has also addressed criticism by eliminating some of the markets. Additionally, the site has recently shut down a market for nuclear risk forecasts after being pressured by the publicity. More so, the shutdown was done through the high geopolitical tensions. This is in response to efforts to deal with concerns as the regulatory pressure persists. Argentina has imposed a nationwide ban on Polymarket following the discovery of unlicensed betting operations and a ban on platforms. The relocation is in line with the larger international desire to control prediction market sites and restrict illegal gambling solutions.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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US Lawmakers Introduce Bill to Crack Down on Prediction Markets War Bets

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Law, Congress, United States, Prediction Markets

Two Democratic lawmakers in the US Congress have introduced legislation in response to “government corruption” over bets on prediction markets platforms.

In a Tuesday announcement, Texas Representative Greg Casar and Connecticut Senator Chris Murphy said they had introduced the Banning Event Trading on Sensitive Operations and ​Federal Functions (BETS OFF) Act after several Polymarket accounts made “highly unusual bets” that a war between the US and Israel against Iran would begin.

Murphy said on March 4 that it was likely that people with “inside information” of US President Donald Trump’s plan to bomb Iran had made the bets.

“We shouldn’t live in a country where someone sitting in the situation room making decisions about whether to invade or to bomb, decisions about war and peace, life and death, that those decisions could be driven by the fact that they have hundreds of thousands of dollars riding on the decision,” said Casar.

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Law, Congress, United States, Prediction Markets
Source: Representative Greg Casar

The bill is the latest twist in US lawmakers’ efforts to crack down on prediction market platforms and accounts allegedly using insider information to profit from government actions. Last week, California Senator Adam Schiff introduced the DEATH BETS Act to prevent prediction markets platforms from listing events contracts related to war, terrorism, assassination and individual deaths.

Related: Arizona AG files charges against Kalshi over ‘illegal gambling‘

Platforms like Polymarket and Kalshi offer bets on a variety of outcomes, including sporting events and US politics. However, users betting on the specifics of the US-Israel conflict with Iran have ignited controversy in many areas of government. On Monday, a military correspondent with the Times of Israel said that he had received death threats over his report of the date when an Iranian missile had struck Israel, all “in order to resolve a prediction on Polymarket.”

War-related bets still live on Polymarket

As of Tuesday, Polymarket still offered users the opportunity to place bets on the outcomes of several potential decisions in the US-Israel conflict against Iran, including on whether the US would send ground forces into the country, when a ceasefire might happen, and changes to Iranian leadership.

“The promise of prediction markets is to harness the wisdom of the crowd to create accurate, unbiased forecasts for the most important events to society,” said Polymarket in a note on Middle East markets. “That ability is particularly invaluable in gut-wrenching times like today. After discussing with those directly affected by the attacks, who had dozens of questions, we realized that prediction markets could give them the answers they needed in ways TV news and [X, formerly Twitter] could not.”

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Kalshi, in contrast, offered event contracts related to the Iranian conflict but not on specific military actions, such as if the country might reach a nuclear deal with the US and whether Trump or other elected officials might visit Iran.

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