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Estimated Impact of Automation in Finance by 2030
Projected percentage of work hours that could be automated in the finance and insurance sector.
Primary Sources
JPMorgan's Jamie Dimon says bank chief's viral AI comment was 'inartful'
By Theron Mohamed You're currently following this author! Want to unfollow? Unsubscribe via the link in your email. JPMorgan CEO Jamie Dimon spoke about AI-driven job losses. Bloomberg/Getty Images Jamie Dimon addressed controversial comments from Standard Chartered's CEO in a new interview. The JPMorgan CEO said "lower-value human capital" was an "inartful" description of employees. Dimon said he hopes to offer reskilling, relocating, or even early retirement to displaced workers. Jamie Dimon has weighed in after a fellow bank chief's comments about AI-driven job losses sparked backlash — and signaled he'll take care of his employees who are displaced by the emerging technology. On Tuesday, Standard Chartered CEO Bill Winters described a planned reduction in support staff as "replacing in some cases lower-value human capital with the financial capital and the investment we're putting in."After facing swift criticism online for his choice of words, Winters clarified his comments in an internal memo on Wednesday that was seen by Business Insider and confirmed by a spokesperson. CMO Carla Hassan shares how JPMorgan Chase is leaning into AI for business growth Winters wrote that "where roles do fall away, it reflects changes in the work, not the value of our people."Dimon told Bloomberg at JPMorgan's China Summit in Shanghai on Thursday that Winters — who worked at JPMorgan for 26 years, rising to become co-CEO of its investment bank — could have phrased his comment more carefully. "Bill's a friend of mine and all of us say something incorrectly," the JPMorgan CEO said. "It was an inartful way to say something."The billionaire banker added that he believes AI won't just disrupt less-skilled workers. "Every app, every process, every job will be affected," he said.He described how the tech is transforming several parts of JPMorgan's business, from marketing to fraud detection to hedging and document management, and said that was just the "tip of the iceberg."Dimon struck a reassuring tone about the prospect of large-scale job losses at JPMorgan."We're going to be prepared to say, 'Okay, we love these people, they're great, we're going to take care of them. We're going to give them reskilling, new skills, better jobs, move them somewhere else, maybe early retirement,'" he said.Dimon said it was "incumbent" on society as a whole to be ready if AI triggers mass job losses. He suggested that high schools and colleges could partner with local businesses to...
Dimon: AI will mean fewer traditional bankers at JPMorgan; Intesa ...
JPMorgan is likely to hire more AI specialists and fewer traditional bankers as the technology transforms staffing requirements across Wall Street, chief executive Jamie Dimon has said.“I think it will reduce our jobs down the road,” Dimon told Bloomberg Television in an interview during the bank’s China Summit in Shanghai. Want to continue reading The Banker?Benefit from expert analysis, exclusive data and rankings, clear insight into innovation, regulation and strategy, and the context you need to stay ahead of critical developments in global finance.View your subscription options
JPMorgan will hire more for AI, fewer bankers, CEO Dimon says
The comments highlight a broader industry pivot to automation reshaping the global financial workforcePublished Thu, May 21, 2026 · 03:58 PM[SHANGHAI] JPMorgan Chase chief executive officer Jamie Dimon said the Wall Street giant will likely hire more artificial intelligence specialists and fewer traditional bankers as the adoption of the technology accelerates.“I think it will reduce our jobs down the road,” Dimon said in a Bloomberg Television interview at the bank’s China Summit in Shanghai. “There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers in certain categories, and it will make them more productive.”Dimon’s comments underscore a broader industry pivot towards automation that is reshaping the global financial workforce. As AI spreads across Wall Street, lenders are racing to boost productivity and streamline operations while navigating the potential political and social backlash triggered by job cuts.Unlike some of his banking peers, Dimon struck a measured tone, arguing that the AI-driven transition can largely be managed through natural turnover rather than sweeping layoffs. Even as AI alters every tier of employment, moving beyond back-office tasks into higher-value functions, Dimon said it will also create new roles, particularly in client-facing areas.With an annual attrition rate of roughly 10 per cent, or about 25,000 to 30,000 departures a year, JPMorgan has the flexibility to retrain staff, redeploy workers, or offer early retirement packages, Dimon said.Earlier this week, Standard Chartered CEO Bill Winters sparked debate by stating the emerging markets lender is replacing “lower-value human capital” with technology to eliminate 8,000 support roles over the next four years. That followed remarks from Goldman Sachs Group president John Waldron, who recently described traditional back-office operations as a “human assembly line” ripe for automation.DECODING ASIANavigate Asia ina new global orderGet the insights delivered to your inbox.HSBC Holdings CEO Georges Elhedery also weighed in this week, warning that AI will “destroy” certain roles while creating others, and urged employees to adapt to the technological shift rather than resist it.The structural shift is backed by industry data. Roughly 30 per cent of work hours in finance and insurance could be automated by 2030, according to estimates by McKinsey . Meanwhile, research from Citigroup indicates that more than half of all banking jo...
Dimon Says JPMorgan Will Hire More for AI, Fewer Bankers
May 21, 2026 at 3:42 AM UTCUpdated on May 21, 2026 at 4:19 AM UTCJPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the Wall Street giant will likely hire more artificial intelligence specialists and fewer traditional bankers as the adoption of the technology accelerates.“I think it will reduce our jobs down the road,” Dimon said in a Bloomberg Television interview at the bank’s China Summit in Shanghai. “There will be all different types of jobs, and I think we will be hiring more AI people and fewer bankers in certain categories, and it will make them more productive.”
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