Dimon backs AI at JPMorgan but also supports government action to prevent mass layoffs.

JPMorgan Chase CEO Jamie Dimon is anxious as high asset levels collide with increased competition among lenders and jitters over loans to the software industry.

“If you read history books, there are a lot of examples where you could get surprised,” Dimon told analysts yesterday.

JPMorgan, the world's biggest bank by market cap, has the industry's largest annual tech budget at nearly $20 billion, and it has outlined an ambitious AI plan.

Dimon backs AI at JPMorgan but also supports government action to prevent mass layoffs.

The former Twitter CEO said AI was “enabling a new way of working” as his company scales back its workforce as a result of AI productivity gains.