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JPMorgan Chase CEO and Chair Jamie Dimon hailed artificial intelligence’s potential impact on society in his annual letter to shareholders released Monday morning, CNBC reports.
In the letter to shareholders, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets—ahead of geopolitical risks, recent acquisitions and regulatory matters. “While we do not know the full effect or the precise rate at which AI will change our business—or how it will affect society at large—we are completely convinced the consequences will be extraordinary,” Dimon says.
The impact will be “possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the internet.”
The CEO also warned that he has ongoing concerns about inflationary pressures and reiterated he believes that the world may be entering the riskiest era in geopolitics since World War II.
