JPMorgan Chase CEO Jamie Dimon addressed concerns about a potential AI investment bubble in an interview published in the Financial Times on Tuesday. Reflecting on the current surge in AI-related investments, particularly in data centers, Dimon acknowledged that while some ventures will succeed, others are likely to fail, drawing a parallel to the 2000 internet bubble.
Dimon said he’s not focused on the technical differences between AI models or chips, but on using AI in ways that truly benefit clients. He stressed the need to protect sensitive data, especially when combining the bank’s internal information with outside sources through large language models.
While he sees strong potential in AI, Dimon warned that some expectations may be unrealistic, particularly around the cost of running models.