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AI is Real, Not Just Hype: JPMorgan CEO Jamie Dimon

Many are skeptical about the emerging artificial intelligence (AI) tools being developed by companies like OpenAI, but JPMorgan Chase CEO, Jamie Dimon, is certainly a believer. He expressed his confidence in AI during an interview with Leslie Picker of CNBC on Monday, stating that AI is not simply here today, gone tomorrow; it’s bigger than GPT-like language models. Recalling the tech bubble of the early 2000s, he contrasted the hollow hype with the genuine potential of AI today.

He stated, “This isn’t simply empty talk. This is reality. The first time we experienced the internet hype… it was just that, hype. This isn’t. It’s reality.” He added that the pace of implementation may vary, but AI has the potential to handle an incredible amount of tasks.

JPMorgan itself is exploring the use of these novel technologies in-house, with Dimon mentioning the likelihood of AI being employed in nearly all job roles eventually. The corporation appointed a Chief Data and Analytics Officer last year, further signaling their commitment to AI.

As per Dimon, around 200 professionals at JPMorgan are actively researching the advanced language models recently unveiled by tech companies. He acknowledges the likelihood of misuse, but maintains his optimism for the benefits of AI, citing areas such as cybersecurity and pharmaceutical research where it can be a valuable asset. “AI might very well lead to breakthroughs in cancer treatments due to its capabilities exceeding those of the human mind,” mentioned Dimon.

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