The burgeoning synthetic intelligence instruments from corporations comparable to OpenAI nonetheless have their share of skeptics, however do not rely JPMorgan Chase CEO Jamie Dimon amongst them.
The Wall Road titan advised CNBC’s Leslie Picker on Monday that AI is not only a passing fad and is greater than simply the massive language fashions comparable to Chat GPT. He in contrast the present second favorably to the tech bubble across the begin of the twenty first century, when investor pleasure seemingly received forward of the particular modifications.
“This isn’t hype. That is actual. Once we had the web bubble the primary time round … that was hype. This isn’t hype. It is actual,” Dimon mentioned. “Individuals are deploying it at completely different speeds, however it is going to deal with an incredible quantity of stuff.”
JPMorgan has achieved work on the flexibility to make use of the brand new applied sciences internally, with Dimon saying that AI will ultimately “be utilized in nearly each job.” JPMorgan created a brand new function of chief information and analytics officer final 12 months, partially to deal with AI.
Dimon mentioned Monday that there are 200 individuals at JPMorgan doing analysis on the massive language fashions which have not too long ago been rolled out by tech corporations.
Whereas acknowledging that AI can be utilized by unhealthy actors, Dimon known as himself a “massive optimist” in regards to the rising know-how, mentioning cybersecurity and pharmaceutical analysis as areas the place it may be useful.
“It might invent most cancers cures as a result of it will probably do issues that the human thoughts merely can’t do,” Dimon mentioned.
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