What did Jamie Dimon say about AI and Careers in Financial Services?
I listened to a recent interview on Bloomberg Radio in which Jamie Dimon, CEO of JPMorgan Chase, discussed the impact of AI on the financial services industry. Dimon said that his bank’s $2 billion annual AI investment is already paying for itself through increased productivity: “We know it’s billions of cost savings, and that’s just the tip of the iceberg,” he told Bloomberg. He added, “AI is going to affect jobs — some will be enhanced, some will be eliminated. The shift won’t be painless.”
As a Career Coach across Banking, Capital Markets, and Asset & Wealth Management, my focus is on how you can best navigate this change. Here are some ideas.
Ask yourself some uncomfortable questions — and then take action
Do I understand how AI is affecting, and will affect, my area of business?
Can I interpret data-driven insights to better serve clients?
Am I leaning in toward this change, or burying my head in the sand, hoping it won’t affect me?
You might consider finding some role models among your colleagues, observing how they’re adapting, and implementing the best practices you see.
Some additional ideas to get started
Build your digital literacy | Learn the basics of AI, data analytics, and digital platforms relevant to your area of expertise.
Deepen your advisory skills | Emotional intelligence, reading the room, nuanced communication, and sound judgment in the moment will give you an edge.
Deepen your relationships | Human connection cannot yet be replicated, so approach your work and professional relationships with authenticity and genuine care for others.
Be adaptable | It’s a cliché, but it’s not always the smartest who thrive — it’s the most adaptable. Be ready to read the runes and look for opportunities.
AI’s impact across sectors
In Banking, Capital Markets, and Wealth and Asset Management, AI will certainly enhance productivity and the results you can achieve.
Banking: AI and data-driven insights will help anticipate client needs, identify solutions, and deepen engagement.
Capital Markets: Processes will be accelerated, and errors reduced.
Asset & Wealth Management: There will be opportunities to create bespoke, personalised solutions based on client-specific data and needs.
In summary
Jamie Dimon was clear that not only has AI arrived, but the real change has also only just begun. This is an exciting time — opportunities abound for those who can adapt to the shifting topography. If you’re interested in how you can use AI as part of your wider career strategy, let’s talk. Use this link to book a complimentary 15-minute Career Strategy Call.