NEW YORK, Oct 4, (Agencies): Jamie Dimon, the CEO of JPMorgan, is challenging pessimistic views about AI's impact on the workforce. Instead, he paints a picture of how AI can enhance businesses and improve the work-life balance of employees.

Dimon, known for advocating traditional work norms, believes that AI could enable future generations to work less, reducing the standard workweek from five days to just three and a half days. Additionally, he predicts that people may live up to 100 years in the future.

JPMorgan is already incorporating AI into various aspects of its operations, from error detection to trading and research. However, concerns persist that AI could replace human jobs, with Goldman Sachs estimating the potential loss of 300 million jobs in the wake of AI adoption.

Dimon acknowledges these concerns but points out that societies have faced technological advancements before. He suggests that AI and large language models offer opportunities to enhance living standards, urging people to embrace the potential benefits.

McKinsey's report from June indicates that generative AI and emerging technologies have the potential to automate tasks that currently consume 60% to 70% of employees' time, potentially adding trillions to the global economy annually.

Dimon's outlook aligns with a British study conducted by the University of Cambridge, which found a 65% reduction in sick days and reduced burnout in organizations implementing a four-day workweek.

While Dimon recognizes AI's potential negative uses, such as cyber warfare, he shares the hope of introducing safeguards to the sector, similar to Sam Altman, CEO of OpenAI.

Dimon also emphasizes JPMorgan's commitment to assisting employees affected by AI-driven job displacement. Drawing parallels with their acquisition of First Republic, he explains their intention to offer alternative roles to displaced staff, demonstrating the bank's commitment to their workforce's well-being.