JPMorgan Chase CEO Jamie Dimon said Tuesday that the bank is investing around $2 billion each year in artificial intelligence (AI) — and the tech is already paying off.
Speaking in an interview with Bloomberg, Dimon explained that JPMorgan's annual AI spending is matched by savings the bank gains from using the technology across different departments.
"We know that it's got to billions of cost savings and I think it's the tip of the iceberg," Dimon said.
The bank, which is the largest in the US by assets, uses AI in areas like risk management, marketing, customer service, trading, and more.
Dimon added that the company has already built hundreds of use cases, and the number is growing fast.
Thousands of JPMorgan employees are currently involved in AI-related work.
According to Dimon, the technology has become a key part of the bank's operations and will soon be in every process — including research, equity hedging, and fraud detection.
JPMorgan Chase CEO Jamie Dimon says the company spends $2 billion a year on developing artificial intelligence technology, and saves about the same amount annually from the investment https://t.co/ilbYdfgcKy pic.twitter.com/F17GR4G57U
— Bloomberg TV (@BloombergTV) October 7, 2025
JPMorgan's $2B AI Bet Signals Tech Future
Dimon, who has spoken about AI many times before, says it has huge potential beyond banking.
He believes AI can help shorten the work week, improve life for workers, and even play a role in curing cancer. But he also warned that some jobs could disappear as a result of automation.
"As with every new technology, some jobs will also be lost," he said in a previous letter to shareholders.
Despite the risks, Dimon remains optimistic about what AI can do. He has compared its impact to some of the biggest inventions in history, like the printing press, electricity, and the internet.
JPMorgan's $2 billion investment shows just how serious the bank is about staying ahead in the tech world, NY Post reported. Dimon believes this is only the beginning of a much larger shift in the global economy.
AI tools at the bank often work alongside human employees as digital "co-pilots," helping them make faster and more accurate decisions.
And for Dimon, the message is clear: investing in AI isn't just smart — it's necessary.
"This is just the start," Dimon said. "The real impact is still to come."
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