According to Business Insider, Jamie Dimon, CEO of JPMorgan Chase, stated that artificial intelligence is developing so rapidly that governments will find it difficult to control its global spread. Speaking at the Economic Club in Chicago, Dimon noted that progress in AI surpasses even the Industrial Revolution, as new capabilities emerge every few weeks.
Open AI models and systems are rapidly spreading across many countries, including China, which complicates the ability of state bodies to regulate this technology.
Business Insider reports that Dimon believes AI will boost labor productivity. He forecasts that within the next thirty years, people may only need to work three and a half or four days a week, with their annual income potentially reaching $300,000. These statements came amid significant investments by major tech companies in AI.
Google, Amazon, Microsoft, and Meta planned substantial investments in AI infrastructure this year, with the total capital expenditure of these companies estimated at over $700 billion.
Furthermore, Dimon warned that AI agents are capable of conducting cyberattacks around the clock. If given access to bank accounts to make payments on behalf of individuals, serious security threats could arise. He added that users might face risks if AI agents do not act in their best interests after gaining access to financial accounts.
In Dimon's view, companies and governments must urgently take measures to counter these cyber threats. He emphasized that the priority should be managing the risks arising from AI development, rather than attempting to halt its proliferation.
Business Insider also reported that Bank of America hired 1,000 external consultants to address software vulnerabilities identified by advanced AI models, reflecting growing concern in the financial sector regarding AI-related security threats.