- AI adoption could outpace society’s ability to adjust, risking unrest
- Governments and companies may need to slow deployment and support workers
- Others argue the technology will create more jobs than it removes
Artificial intelligence may deliver major gains but could also unsettle society if rolled out too quickly, Jamie Dimon, the boss of JP Morgan Chase, reportedly said during discussions at the World Economic Forum in Davos.
Dimon said AI had the potential to lift productivity and accelerate medical breakthroughs but warned that large-scale job displacement without support could lead to “civil unrest”, as quoted in a news report. He suggested that the pace of adoption might need to be managed carefully to allow workers and communities time to adjust.
He told the audience that businesses and governments could not ignore the technology or delay decisions indefinitely. At the same time, he indicated that JP Morgan itself may employ fewer people within five years as AI tools are rolled out across operations.
Progress runs ahead of people
According to Dimon, local and national governments may have to step in with wage support, retraining schemes, relocation assistance and early retirement options. He pointed to US commercial lorry drivers as one group that could be hit hard if driverless trucks are adopted rapidly.
If millions of workers were to see their income fall sharply in a short period, social tensions would be unavoidable, he reportedly said, arguing instead for a phased approach. The broader message was that technological progress is unlikely to slow, but the social response still needs planning.
Dimon also offered measured comments on wider geopolitical issues, including US relations with Europe and Nato, suggesting that pressure should aim to strengthen rather than fragment alliances. He raised concerns over the tone of the US immigration clampdown, calling for clearer data and calmer debate, while noting that many migrants play key roles in sectors such as healthcare, hospitality and agriculture.
Jobs lost or jobs transformed?
Not everyone at Davos shared the same level of concern. Jensen Huang, chief executive of Nvidia, reportedly played down fears of mass job losses linked to AI.
Huang argued that labour shortages, not unemployment, were the bigger issue. He said the global push to build AI infrastructure was creating demand for a wide range of roles, from construction workers and electricians to network technicians. This, he added, was already pushing up wages in parts of the US.
He also described AI robotics as a rare opportunity for Europe, citing the region’s strong industrial base as a potential advantage in the next phase of technological change.
Taken together, the comments underline a growing divide in how business leaders see AI’s impact. The benefits are widely acknowledged, but the debate now centres on timing, transition and how prepared societies really are for the shift ahead.
