Jamie Dimon believes that artificial intelligence can help people work less and live longer

According to JP Morgan CEO Jamie Dimon, he’s optimistic concerning the prospect of artificial intelligence improving the work-life balance of American staff in the longer term comments he made while appearing on the show .

As reported , Dimon appears to have acknowledged that artificial intelligence will replace jobs for some Americans, and has made the ambitious claim that because of progress, humans could soon live beyond 100 years of age.

“People must take a deep breath. Technology has at all times replaced jobs. “Your children will live to be 100 and thanks to technology they won’t get cancer and they will literally probably work three and a half days a week,” Dimon said.

Dimon’s forecasts are ambitious because On average, Americans work about 37 hours every weekso principally still America’s pioneering standard 40-hour, five-day work week within the Nineteen Twenties by Ford Motor Co.

While JPMorgan Chase did create a five-year, $350 million reskilling initiative in 2019 to help prepare staff for a work economy more depending on AI and technology, company employeesper , it’s 44% white, 21% Latino, 19% Asian and 14% Black.

According to a 2022 CDC evaluation, yes It isn’t easy to predict how radical changes within the workforce will likely be as a consequence of technological advances because there are too many variables to say with any certainty which jobs and sectors will likely be affected and how.

In April, MIT economist David Autor was the lead writer of a study that found that since a minimum of 1980 technological advances haven’t created more jobs than they’ve eliminatedbut with the caveat that some types of work have only been transformed, not completely eliminated.

As the Author said: “Artificial intelligence is basically different. It can replace some high-skilled specialist knowledge, but can complement decision-making tasks. I feel we live in an era where we now have this recent tool and we do not know what it’s good for. New technologies have strengths and weaknesses, and recognizing them takes time. GPS was invented for military purposes and it took a long time before it appeared on smartphones.

The writer continued: “The missing link has been documenting and quantifying the extent to which technology improves the quality of human work. All previous measures simply showed automation and its impact on the movement of workers. We were amazed that we could identify, classify, and quantify gain. That in itself is quite fundamental to me.”

According to the writer, streamlining means a fundamental restructuring of the best way work is performed, while automation essentially replaces the worker.

“You can think of automation as a machine that takes input from work and does it for the employee,” Autor explained. “We see enhancement as technology that increases the variety of things people can do, the quality of what they can do, or their productivity.”

Marc Morial, president of the National Urban League, he warned in a 2019 article that automation poses a transparent threat to black Americans’ job prospects.

Morial referred to a McKinsey and Company report titled “The future of work in black America”, which painted a bleak picture, especially for Black men. “African Americans are overrepresented in jobs most likely to be lost, such as food service, retail, office support and factory work,” Morial wrote.

Morial continued: “African Americans are also underrepresented in jobs where the risk of AI loss is lowest. These include educators, health care workers, lawyers and agricultural workers.”

According to the McKinsey report, along with improving the outlook for areas where black people work and live, “the public and private sectors will need to implement targeted programs to increase awareness of the risks of automation among African-American workers. Additionally, both sectors will need to provide African Americans with opportunities to pursue higher education and the ability to move into higher-paying roles and occupations.”