Perhaps one day we will look back on the 40-hour workweek as we now look back on the 70-hour week of the Victorian era: a thing of the past. It is the vision of JPMorgan, one of the most influential banking giants in the world.
The CEO Jamie Dimon has no doubts: artificial intelligence will radically transform the way we work, bringing us towards a work week of just three and a half days. A perspective that may seem utopian, but which is based on concrete data and trends already in place.
JPMorgan and the AI Revolution
Thousands of JPMorgan employees are already using AI in their daily work. The technology is being used in a variety of industries, from signals to the Research, from error detection to troubleshooting operations financial coverage.
For Dimon, AI is a “living, breathing thing” that will evolve throughout history. It is not just about automation, but a real paradigm shift in the way we think about work.
The bank is demonstrating how AI integration can lead to significant increases in operational efficiency, paving the way for reduced working hours without compromising productivity.
The impact on the labor market
For a relationship di Goldman Sachs, approximately 300 million jobs could be affected by the advent of AI.
A significant portion of the workforce fears losing their jobs due to automation. However, Dimon invites us to remain calm: “Technology has always replaced some jobs,” he says, “but it has also always created new opportunities“The challenge will be to manage this transition in a balanced way.
The Future According to McKinsey
A relationship di McKinsey published last year offers an interesting perspective. Generative AI and other emerging technologies could automate tasks that currently take up 60% to 70% of employees' time.
This could translate into an estimated contribution to the global economy of between $2,6 and $4,4 trillion per year. Reducing working hours does not necessarily mean decreasing productivity. The study suggests that automation could actually enable workers to focus on higher value-added activities.
Historical background and future prospects
This is not the first time that drastic reductions in working hours have been predicted thanks to technology. In 1930, the economist John Maynard Keynes he hypothesized that future generations would work only 15 hours a week.
A recent British study byUniversity of Cambridge of 61 organizations showed promising results: with a four-day work week, There was a 65% reduction in sick days and 71% of employees reported lower levels of burnout.
Ninety-two percent of participating companies decided to keep the three-day weekend, suggesting that the future envisioned by JPMorgan may not be so far away.
The challenges and risks of AI
Dimon also recognizes the potential risks of AI, particularly when used with malicious intent. Like other technology leaders, including Bill Gates e Steve Wozniak, stresses the importance of establishing clear rules for its use.
The key will be to manage this transition in a way that maximizes benefits while minimizing risks. What risks?
Cybersecurity represents a major concern, but Dimon remains optimistic about the ability to manage these risks through appropriate regulation, although it may take considerable time and effort to develop an effective regulatory framework.
JPMorgan’s vision for the future of work, in short, is a balance between technological optimism and awareness of the challenges ahead.
Not bad for a society portrayed as absolute evil.
