Yahoo Finance
Every generation ofWall Streetworkers learns the same lesson the hard way.
The bank you joined is rarely the bank you retire from.
Roles get reshuffled, divisions get sold off, and the career path that looked rock-solid on day one almost never matches the one that pays out at year 30.
For decades, the safe play inside a giant like JPMorgan Chase (JPM) was simple.
Learn the products, build a book of business, climb the ladder.
The senior bankers who shepherded clients through deals, financings, and downturns were the ones who got promoted, paid, and protected when the cycle turned.
But it is being quietly rewritten in real time, and the man running the rewrite has spent the past few years warning anyone who would listen that the next decade in finance would look nothing like the last.
NowJamie Dimonhas put a sharper edge on what he means.
The JPMorgan chief executive told Bloomberg Television that the bank will hire more artificial intelligence specialists and fewer traditional bankers in certain categories as automation accelerates across Wall Street.
Speaking at JPMorgan's China Summit in Shanghai on May 21, Dimon was direct about where headcount goes next.
"I think it will reduce our jobs down the road," he said in the interview, according toBloomberg.
"There will be all different types of jobs, and I think we will be hiring moreAIpeople and fewer bankers in certain categories, and it will make them more productive," Dimon added.
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