JPMorgan Chase CEO Jamie Dimon departs from the Capitol in Washington on February 25, 2026.
Graham Sloan | Bloomberg | Getty Images
JP Morgan Chase Chief Executive Jamie Dimon warned on Tuesday that artificial intelligence could cost US jobs and suggested the government could create an incentive system for businesses to soften the blow.
“If you suddenly have people unemployed, that’s a big problem for society,” Dimon said during a panel discussion with Palantir Secretary of Defense and former U.S. Rep. Mike Gallagher (R-Wis.) at the Hill and Valley Forum in Washington.
“I don’t know the answer yet, but I would like to think about it this way: It can’t just be about government. It has to be about business,” Dimon said. “But the government could create a system of incentives for companies to do the right thing in terms of reskilling people, retiring people early, moving people around…If you had the right systems in place, you would be able to respond much more quickly.”
Dimon warned that AI-driven economic change will happen quickly, potentially faster than recent technological advances such as the internet, which has disrupted economies and displaced workers.
“It’s coming, it’s coming quickly,” Dimon said. “It might be faster this way… So if people lose their jobs right away, will we be able to accommodate them? And the answer is, I don’t know if that’s going to happen. (But) I always want to be prepared.”
The warning about job losses due to AI is the latest from Dimon, who has taken steps within JPMorgan Chase to shift employees into new roles as automation accelerates. As AI continues to develop, major banks are already cutting back on hiring.
The potential for AI to disrupt the job market is a serious issue in Washington state, with several lawmakers proposing efforts to monitor or limit the amount of job losses due to AI.
Sens. Josh Hawley (R-Missouri) and Mark Warner (D-Va.) have introduced a bill that would require major companies and the federal government to report quarterly on job losses due to AI.
The White House’s new policy framework on AI called on Congress to develop legislation to support workers in their transition to AI.
