JPMorgan Chase spending $2 billion yearly on AI and already saving just as much

JPMorgan Chase Spending $2 Billion Yearly on AI and Already Saving Just as Much

JPMorgan Chase CEO Jamie Dimon says the bank is dropping $2 billion annually on artificial intelligence development and “saves about the same amount annually from the investment”

Dimon told Bloomberg on Tuesday:

We know that it’s got to billions of cost savings and I think it’s the tip of the iceberg

The bank has hundreds of AI use cases already in the works, with plans to embed the technology into every company process from trading and research to customer service.

Dimon compares AI’s potential to major historical breakthroughs like the printing press, steam engine, electricity, computing, and the internet.

While some jobs will be lost, Dimon says AI will dramatically improve workers’ quality of life and could help humans cure cancer and work shorter weeks
JPMorgan has thousands of employees working on AI projects across the organization

Source: Bloomberg Podcasts October 7, 2025