--- title: Dimon says AI already eliminated 30 to 40 percent of... description: JPMorgan CEO Jamie Dimon revealed during the bank's Q2 earnings call that AI has already eliminated 30 to 40 percent of jobs in some divisions. Despite these... canonical: https://daily.dev/posts/dimon-says-ai-already-eliminated-30-to-40-percent-of-jobs-in-some-jpmorgan-divisions-us9z7hf0h twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions | daily.dev og:description: JPMorgan CEO Jamie Dimon revealed during the bank's Q2 earnings call that AI has already eliminated 30 to 40 percent of jobs in some divisions. Despite these... og:url: https://daily.dev/posts/dimon-says-ai-already-eliminated-30-to-40-percent-of-jobs-in-some-jpmorgan-divisions-us9z7hf0h og:image: https://api.daily.dev/og/posts/us9Z7HF0h.png og:image:alt: Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions **[The Next Web](https://daily.dev/sources/tnw)** · 3 min read · 1 upvotes · 1 comments ## Summary JPMorgan CEO Jamie Dimon revealed during the bank's Q2 earnings call that AI has already eliminated 30 to 40 percent of jobs in some divisions. Despite these efficiency gains, Dimon cautioned that competitive market dynamics mean no single bank will see dramatically improved margins — every institution will deploy AI, so savings flow to customers rather than profits. JPMorgan reported $21 billion in net income for Q2, up 41 percent year-over-year. The bank runs nearly 1,000 AI use cases on a $20 billion tech budget, with 150,000 employees using an internal LLM weekly. CFO Jeremy Barnum also flagged rising token costs as a new expense line to watch in the second half of 2026. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Questions this post answers ### How many jobs has JPMorgan cut using AI according to Jamie Dimon? Jamie Dimon said AI has already eliminated 30 to 40 percent of jobs in some divisions of JPMorgan Chase. He made the comment during the bank's second-quarter earnings call, adding that most employees affected by these cuts were offered other positions within the firm rather than being laid off outright. _daily.dev surfaces reporting like this for anyone tracking how AI reshapes jobs across tech and finance._ ### Why does Jamie Dimon think AI won't improve JPMorgan's profit margins? Dimon argued that competitive dynamics in banking mean no single institution can keep the cost savings from AI, because every bank deploys the same technology to serve customers better. He compared it to 20 years of computerization that never pushed bank margins to 80 percent, implying AI savings get competed away rather than retained. _Developers evaluating AI's business impact can follow this kind of margin analysis on daily.dev._ ### How much is JPMorgan spending on AI and how many employees use it? JPMorgan has a nearly $20 billion technology budget supporting almost 1,000 AI use cases covering fraud protection, marketing, and note-taking. About 150,000 of its more than 300,000 employees use an internal large language model weekly, and CFO Jeremy Barnum said AI token spending is currently trivial but expected to accelerate significantly in the second half of the year. _daily.dev helps engineers keep tabs on enterprise AI spending trends like this one._ ## Similar posts on daily.dev - [Wall Street’s six largest banks cut 15,000 jobs and posted $47 billion in profits. The CEOs stopped pretending.](https://daily.dev/posts/wall-street-s-six-largest-banks-cut-15-000-jobs-and-posted-47-billion-in-profits-the-ceos-stopped--izomcxrhi) · The Next Web · 4 upvotes · 0 comments - [JPMorgan poaches Nomura’s international AI strategy chief as Dimon doubles down on AI hiring](https://daily.dev/posts/jpmorgan-poaches-nomura-s-international-ai-strategy-chief-as-dimon-doubles-down-on-ai-hiring-yfso32cr0) · The Next Web · 1 upvotes · 0 comments - [European banks plan to cut 200,000 jobs as AI takes hold](https://daily.dev/posts/european-banks-plan-to-cut-200-000-jobs-as-ai-takes-hold-hnmfhahn2) · TechCrunch · 0 upvotes · 0 comments --- Tags: [#ai](https://daily.dev/tags/ai), [#llm](https://daily.dev/tags/llm), [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/dimon-says-ai-already-eliminated-30-to-40-percent-of-jobs-in-some-jpmorgan-divisions-us9z7hf0h) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Dimon says AI already eliminated 30 to 40 percent of jobs in some JPMorgan divisions","url":"https://daily.dev/posts/dimon-says-ai-already-eliminated-30-to-40-percent-of-jobs-in-some-jpmorgan-divisions-us9z7hf0h","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/dimon-says-ai-already-eliminated-30-to-40-percent-of-jobs-in-some-jpmorgan-divisions-us9z7hf0h"},"datePublished":"2026-07-14T17:15:42.266Z","dateModified":"2026-09-14T07:49:07.524Z","description":"JPMorgan CEO Jamie Dimon revealed during the bank's Q2 earnings call that AI has already eliminated 30 to 40 percent of jobs in some divisions. 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He made the comment during the bank's second-quarter earnings call, adding that most employees affected by these cuts were offered other positions within the firm rather than being laid off outright. daily.dev surfaces reporting like this for anyone tracking how AI reshapes jobs across tech and finance."}},{"@type":"Question","name":"Why does Jamie Dimon think AI won't improve JPMorgan's profit margins?","acceptedAnswer":{"@type":"Answer","text":"Dimon argued that competitive dynamics in banking mean no single institution can keep the cost savings from AI, because every bank deploys the same technology to serve customers better. He compared it to 20 years of computerization that never pushed bank margins to 80 percent, implying AI savings get competed away rather than retained. 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