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US financial giant JP Morgan Chase CEO Jamie Dimon expressed his enthusiasm for Artificial Intelligence, describing it as a revolutionary technology that will drive transformative change and reshape the world.
Dimon drew parallels between AI and groundbreaking innovations like the printing press, steam engine, and internet, which have significantly impacted society, during a conversation with Adobe CEO Shantanu Narayen at the company’s annual summit in Las Vegas.
Dimon emphasized that, similar to past innovations, AI will take time to mature but will ultimately have a profound impact on the world, leading to unimaginable transformations. He predicted that the future will be driven by AI.
AI, according to the 69-year-old billionaire CEO, will be instrumental in combating fraud, but he also cautioned that it will be exploited by malicious actors. As a result, organizations, governments, and individuals must be prepared to mitigate these risks, and Dimon advocated for more robust data protection measures, particularly since most data sharing is done by third parties rather than banks.
When asked about the US economy, Dimon stated that it was still in a soft-landing phase but acknowledged the possibility of inflationary pressures in the near future.
“There is a lot of turbulence out there,” he noted, expressing caution about the direction of the economy. “I think this turbulence could force this soft landing in a completely different direction. I’m a little cautious about that direction.”
He cited the ongoing conflict between Russia and Ukraine, as well as tensions in the Middle East, as factors that could affect the economy.
Dimon expressed concern over the global impact of tariffs, which have sparked widespread consternation, in response to a question about the tariffs discussed by President Donald Trump. The President’s tax plans have also introduced uncertainty, he added.
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