Is AI capable of reducing the workweek to 3.5 days?

JPMorgan's CEO foresees AI even curing cancer


That artificial intelligence (AI) can dramatically transform the way we work is quite clear. But can it reduce the workweek to 3.5 days? Well, Jamie Dimon, CEO, JPMorgan, believes that not only will AI improve the workplace and productivity, but it will also cure cancer and bring about such changes that people may require to work only 3.5 days a week.

Dimon expressed his thoughts during an interview with Bloomberg TV, praising the potential of technology to bring about significant enhancements in the quality of work life, even if it may come at the cost of doing away with certain jobs.

He highlighted that the technology has versatile benefits for the company, from aiding in the development of new products and enhancing customer engagement to boosting productivity and strengthening risk management. He also emphasised that AI is a tangible and dynamic force that is widely adopted and has the potential to replace human tasks.

He sees AI as a living, dynamic entity that can be integrated into various aspects of operations, including errors, trading, hedging, research, apps and databases. It can serve as a co-pilot alongside humans or even potentially replace them.

Earlier this year, Dimon devoted a large portion of his shareholder’s letter to AI and described JPMorgan’s initiatives, which encompass over 300 operational use cases, as ‘indispensable’ and essential.

However, he does admit that technology has its drawbacks too, explaining how it can be misused by malicious actors for nefarious purposes. Furthermore, he noted that AI may indeed displace certain jobs, but this is understandable and to be expected with the introduction of new technologies.

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