Jamie Dimon: Internet Bubble Was 'Hype,' Artificial Intelligence Is 'Real'

JPMorgan Chase & Co JPM CEO Jamie Dimon sees a future in which AI benefits nearly all aspects of people’s lives and even allows individuals to live longer.

What To Know: In a CNBC interview at JPMorgan's Global High Yield & Leveraged Finance conference in February, Dimon disputed the notion that AI excitement is just "hype."

"This is not hype. This is real. So, you know, when we had the internet bubble the first time around… that was hype. This is not hype, it's real," Dimon said.

Despite companies across the globe racing to implement AI, some observers believe it's a fad. Dimon is not in that camp. Companies are deploying AI at different speeds and the technology is only going to improve, he said.

"It's not hype. This will be for the rest of your life… you're going to find different ways to use it," Dimon said.

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Dimon has long been a supporter of AI advancement. Last year, he said AI was "critical" to JPMorgan's future success. The 68-year-old CEO also suggested that the upside potential of AI was "limitless."

Dimon told CNBC earlier this year that JPMorgan had about 200 people designated for AI research, collecting data on large language models (LLMs) and figuring out different ways LLMs can be used. As of March, the company had expanded AI adoption to its entire staff and now reportedly aims to have personal AI assistants for employees in 2025.

AI will be used across numerous fields, but one of the most exciting is in healthcare, the JPMorgan CEO said.

"It will save lives. It may invent cancer cures because it can do things that the human mind simply cannot do," Dimon said.

The JPMorgan chief explained that AI will be able to combine several data points about your personal background and medical history and then use that data to predict and determine medical conditions.

AI technology can help invent drugs that can cure those conditions and even prevent them from ever happening in the first place, he said: "So I'm a big optimist about AI."

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