NEW YORK — JPMorgan Chase CEO Jamie Dimon said artificial intelligence has already displaced some employees inside the nation’s largest bank, but he said the firm is moving affected workers into other jobs as it expands AI across the company, Feb. 25, 2026.
Speaking at an investor event Monday, Dimon said the bank has “huge redeployment plans” for employees whose tasks are being automated.
“We have displaced people from AI and we offer them other jobs,” he said, describing the effort as a way to absorb technology-driven efficiency gains without broad, visible layoffs.
JPMorgan’s overall headcount was essentially flat at 318,512 over the past year, but roles are shifting under the surface. Operations staff fell about 4% and support roles declined about 2%, while revenue-producing and client-facing roles rose about 4%, according to reporting based on the bank’s internal breakdown.
Executives have pointed to measurable performance gains tied to AI deployments. The bank said accounts handled per operations employee rose 6%, per-unit fraud-handling costs fell 11% and software engineer productivity increased about 10%. JPMorgan also said its generative AI use cases doubled over the past year, with a focus on customer service and technology teams.
The push is backed by one of the industry’s biggest technology budgets. JPMorgan is set to spend nearly $20 billion on technology this year, underscoring the scale of investment required to modernize systems and deploy AI tools across business lines.
The bank is also using models from outside providers, including OpenAI and Anthropic, as part of an internal AI portal, according to reports.
Dimon paired his comments about JPMorgan’s internal workforce shifts with a broader warning about the pace of disruption if AI adoption accelerates across the economy. He raised a hypothetical involving autonomous trucks and the potential to displace roughly 2 million U.S. commercial truck drivers “overnight,” pressing the question of whether society would accept that kind of shock even if new jobs existed but at lower wages.
“Society’s got to think through what it wants to do if this becomes that kind of problem,” Dimon said, urging planning that could include training programs, worker assistance and coordination between government and business. “Now is the time to start thinking about it.”