Jamie Dimon Calls Himself 'Big' AI Optimist, Says AI Boom Is 'Real,' Not 'Hype' Like Internet Bubble

JPMorgan Chase & Co JPM CEO Jamie Dimon sees a future in which AI improves almost every aspect of our lives and even allows us to live longer.

What To Know: In a CNBC interview Monday at JPMorgan’s Global High Yield & Leveraged Finance conference, 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 67-year-old CEO also suggested that the upside potential of AI was “limitless.”

Dimon told CNBC on Monday that JPMorgan now has about 200 people designated for AI research who are collecting data on large language models (LLMs) and figuring out different ways LLMs can be used.

AI will be used across numerous fields, but one of the most exciting is in healthcare, he 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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Photo: Steve Jurvetson from Flickr.