Jobs are beginning to cool and inflation remains stubborn, but the U.S. economy and American consumers are still on solid footing as artificial intelligence reshapes productivity without triggering an immediate wave of job losses, J.P. Morgan Chase CEO Jamie Dimon said Sunday.
Dimon, speaking with Fox News’ Maria Bartiromo on Sunday Morning Futures, said consumer spending and corporate profits remain resilient even as early signs of labor market softening emerge.
“In the short run, it looks like the American consumer is doing fine, is chugging along, companies are making profits, stock markets are high. That could easily continue,” he said. At the same time, he acknowledged areas of concern, adding, “There are little small negatives: Jobs are weakening, but just a little bit, inflation is there and maybe not going down.”
Dimon was also asked how Americans should prepare for the rapid expansion of artificial intelligence, particularly amid fears that automation could eliminate jobs. He pushed back on the idea that AI is about to cause a sharp employment shock next year, arguing that workforce pressures existed even before the technology’s recent surge.
“Look, I don’t think AI is going to dramatically reduce jobs like unbelievably next year. And for the most part, AI is going to do great stuff for mankind, like tractors did, like fertilizer did, like vaccines did. It’ll save lives,” Dimon said.
He stressed, however, that safeguards will be essential as AI adoption accelerates. “Now, of course, it needs to be properly regulated,” he said. “There are downsides to AI, just like there are to airplanes, pharmaceuticals, cars. All things get used by bad people. So assuming that the government figured out some way to put guardrails around AI… but it will eliminate jobs. It doesn’t mean that people won’t have other jobs.”
For workers concerned about their careers, Dimon urged a focus on skills that machines struggle to replicate.
“My advice to people would be, you know, critical thinking, learn skills, learn your EQ, learn how to be good in meetings, how to communicate, how to write. You’ll have plenty of jobs and, if it does happen too fast for society, which is possible, you know, we can’t assimilate all those people that quickly,” he said.
If AI adoption outpaces society’s ability to adjust, Dimon said governments and large employers may need to manage the transition more carefully, potentially slowing deployment and supporting displaced workers through retraining, relocation assistance, income support or early retirement options.
While some occupations may disappear, Dimon argued that new roles will emerge, particularly in areas tied to building and maintaining AI-related infrastructure, including construction and specialized technical fields.
“The next job may be a better job, but they have to learn how to do the job,” he said, adding that AI is likely to “cause probably more jobs in the short run in total.”