Jamie Dimon

James Dimon (born 1956) has run JPMorgan Chase since 2005, steering it through the financial crisis to become the largest and most profitable bank in the United States. His annual shareholder letters are treated as state-of-capitalism addresses — and since 2024 they have led with artificial intelligence.

The printing-press letter

In his April 2024 letter, Dimon put AI first among the issues facing the bank, writing that JPMorgan was “completely convinced” its consequences would be extraordinary — possibly on the order of the printing press, the steam engine and electricity. It was no abstraction: the bank reported more than 2,000 AI and machine-learning staff, hundreds of AI use cases in production from fraud detection to trading, and soon rolled out its LLM Suite assistant to a workforce of over 200,000. Dimon had already told Bloomberg TV in October 2023 that AI could compress the workweek to three and a half days and help the next generation live to 100.

Dimon pairs the boosterism with candor about disruption. The same 2024 letter acknowledged AI could affect every one of the bank’s roughly 310,000 jobs — assisting some workers and making others redundant — and he has argued that society, and employers, must manage retraining and transitions rather than pretend displacement won’t happen. He has also warned about AI’s misuse in fraud and cyberwarfare even while calling the technology itself “real,” not hype.

As the most listened-to banker in the world, Dimon’s embrace carries unusual weight: JPMorgan’s deployment numbers are cited across the industry as proof that generative AI has crossed from demo to profit-and-loss reality.