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In a recent interview, JPMorgan CEO Jamie Dimon predicted future generations could work just three and a half days a week as AI automates routine tasks, enhancing work-life balance. He also sees AI contributing to longer lifespans, with future generations potentially living to 100 and benefiting from advances in healthcare, according to Yahoo Finance.Â
Dimon’s view is backed by a McKinsey report estimating that AI could automate up to 70% of employees’ tasks, adding between $2.6 trillion and $4.4 trillion to the global economy each year. A 2023 study by the University of Cambridge also found that a four-day workweek led to a 65% drop in sick days and reduced burnout, with 92% of companies keeping the shorter week.
Despite fears of job losses, Dimon acknowledged AI’s disruptive impact, noting that JPMorgan plans to redeploy employees displaced by automation. He compared it to the bank’s acquisition of First Republic, where 90% of employees were offered new roles.
Dimon also highlighted the risks of AI misuse, particularly in cyber warfare, and called for regulatory safeguards, though he conceded that implementing these may take time.
Overall, he is optimistic about AI’s potential to improve both the economy and quality of life, urging society to embrace the change.
