The burgeoning artificial intelligence tools from companies like OpenAI still face skeptics, but they’re not among them JPMorgan Chase Including CEO Jamie Dimon.
The Wall Street titan told CNBC’s Leslie Picker on Monday that AI isn’t just a fad and is bigger than just the big language models like Chat GPT. He compared the current moment favorably to the tech bubble of the early 21st century, when investor enthusiasm seemed to outpace actual changes.
“This is not hype. This is real. When we first had the internet bubble… it was hype. This is not hype. It’s real,” Dimon said. “People use it at different speeds, but it will handle a tremendous amount of tasks.”
JPMorgan has been working on the possibility of using the new technologies internally, with Dimon saying AI will eventually be “used in almost every job.” JPMorgan created a new role of chief data and analytics officer last year, including to handle AI.
Dimon said Monday that 200 people at JPMorgan are researching the large language models recently introduced by technology companies.
While Dimon acknowledged that AI can be used by malicious actors, he called himself a “big optimist” about the emerging technology and cited cybersecurity and pharmaceutical research as areas where it can help.
“It could invent cancer cures because it can do things that the human mind simply cannot do,” Dimon said.
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2024-02-26 19:50:24
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