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yesterday

Dimon Says JPMorgan’s $2 Billion AI Spend Is Paying for Itself

He supports lighter SEC earnings rules to reduce pressure on managers.

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co, speaks during an event honoring local construction workers who helped build the firm’s new headquarters at 270 Park Avenue, in the Midtown area of New York City, U.S., September 9, 2025. REUTERS/Shannon Stapleton
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Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television on the sidelines of the JPMorgan Tech Stars Conference 2025 in London, UK, on Tuesday, Oct. 7, 2025.
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Overview

  • The CEO said the bank spends about $2 billion a year on artificial intelligence and is realizing roughly the same amount in measurable savings and benefits.
  • AI now underpins functions across the firm, including risk and fraud detection, marketing, customer service and idea generation, according to Dimon.
  • JPMorgan’s in-house large language model, trained on internal data, is used by roughly 150,000 employees each week, and about 2,000 staff work on AI systems developed since 2012.
  • Dimon cautioned that the technology will affect jobs and urged companies to retrain and redeploy employees as roles change.
  • He said he would welcome SEC moves to ease quarterly reporting and that JPMorgan would still provide quarterly updates with less detail, as SEC leadership fast-tracks the proposal amid transparency concerns.