"We can perform all the tasks we've been doing at one-tenth the expense using artificial intelligence (AI)."
On the 19th (local time) at the Adobe Summit 2025 held at the Venetian Convention Center in Las Vegas, Jamie Dimon, Chairman and Chief Executive Officer (CEO) of JP Morgan Chase, said this. During the discussion, Shantanu Narayen, CEO of Adobe, posed a wide range of questions about the changes brought by AI and the outlook for the global economy, and Dimon shared his views on these topics.
Dimon emphasized that "(executives) must simultaneously understand the market conditions and the internal state of the company," adding that "timely judgment is key to not missing the golden time for innovation."
He further assessed the recent global economy, noting that "while the U.S. economy has been on the rise since the pandemic, the likelihood of fiscal tightening and consumer expenditure contraction is increasing," and that "if various risks such as the Russia-Ukraine war, Middle East situation, and tariff issues overlap, consumer expenditure could decrease."
When Narayen CEO mentioned that "AI is driving innovation not only in finance but in many areas of everyday life," Dimon CEO responded, "Various technologies such as machine learning, generative AI, and agent AI are being applied to corporations, allowing for revolutionary expense reductions while increasing productivity."
He projected that "once vast datasets can be quickly analyzed to find what customers want, any industry will see corporations that make data-driven decisions gain a competitive edge."
In particular, Dimon CEO noted that "when AI technology becomes widespread, tasks that we have been doing will be handled with much less expense and time," stating that "its impact will be as explosive as the innovation brought by the steam engine to the transportation industry."
Narayen CEO also mentioned, "I understand that JP Morgan pays great attention to social responsibility like urban reconstruction," and continued with questions. Dimon CEO replied, "As a global financial firm, it is a natural duty to support cities and communities, and I want to contribute to creating an environment where everyone can access financial services and secure housing."