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JPMorgan’s Jamie Dimon predicts AI reducing work weeks to 3.5 days, says ‘Tech has always replaced jobs, but…’ | Company Business News

Livemint

Livemint · 7m ago

JPMorgan’s Jamie Dimon predicts AI reducing work weeks to 3.5 days, says ‘Tech has always replaced jobs, but…’ | Company Business News

JPMorgan CEO Jamie Dimon believes that artificial intelligence (AI) will bring positive changes to businesses and work-life balance, potentially allowing for shorter workweeks in the future. While he acknowledges the risks of job displacement, Dimon emphasizes the historical benefits of technology. He mentions that thousands of JPMorgan employees already use AI and highlights the opportunities it presents for improving living standards and healthcare. Dimon hopes to reassign employees affected by AI advancements rather than firing them, as demonstrated by the company's acquisition of First Republic in 2023.

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Go to the office 4 to 5 times a week if you're young and want to score a promotion, says a corporate leader

Business Insider

Business Insider · 1y ago

Go to the office 4 to 5 times a week if you're young and want to score a promotion, says a corporate leader

PricewaterhouseCoopers UK Chair, Kevin Ellis, advises junior staff to be present in the office four to five days a week for career success. With the rise of AI taking over tasks previously handled by junior staff, face time and office collaboration become crucial. However, balancing remote work has been challenging post-COVID-19. Other corporate leaders, such as JPMorgan Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon, also encourage young employees to be physically present for mentorship opportunities. A US survey indicates that remote workers are less likely to receive promotions and raises. The reception of this advice among Gen Z is uncertain as they remain undecided about remote work.

Eric Schmidt says Google is falling behind on AI—and remote work is why

Livemint

Livemint · 11m ago

Eric Schmidt says Google is falling behind on AI—and remote work is why

Former Google CEO, Eric Schmidt, has criticized the company's remote work policies, stating that it has caused Google to lose the artificial intelligence race. Schmidt believes that Google prioritized work-life balance and allowing employees to work from home over winning the competition. He emphasized the importance of intense work and in-office collaboration in order for startups to succeed. Schmidt's remarks align with the sentiments expressed by other corporate leaders, such as Jamie Dimon and Elon Musk, who have criticized remote work for making companies less efficient and competitive. Google has recently implemented stricter policies regarding office attendance.

"Take another job and you're done": JPMorgan Chase cracks down on job-hopping analysts

Economic Times

Economic Times · 1m ago

"Take another job and you're done": JPMorgan Chase cracks down on job-hopping analysts

JPMorgan Chase warned incoming analysts against accepting other jobs within their first 18 months, threatening termination for breach. This move, led by CEO Jamie Dimon, aims to deter private equity firms from poaching analysts, countering a prevalent trend that sees fresh graduates committing to other companies early. In a bid to retain talent, JPMorgan offers faster promotions, enabling high performers to advance within two and a half years instead of three, underscoring their commitment to employee loyalty.

Bill Gates says a 3-day work week where 'machines can make all the food and stuff' isn't a bad idea

Business Insider

Business Insider · 1y ago

Bill Gates says a 3-day work week where 'machines can make all the food and stuff' isn't a bad idea

According to a podcast episode with Trevor Noah, Bill Gates believes that technology may not necessarily replace humans in the workforce, but it could potentially lead to a three-day work week. Gates envisions a future where machines are capable of producing all necessary goods and services, leaving humans with more leisure time. He also acknowledges the risks associated with AI if misused. Other business leaders, such as JPMorgan CEO Jamie Dimon, have also predicted a shorter work week due to advancements in technology.

Engineer or MBA? Narayana Murthy shares what really matters in this AI world

Economic Times

Economic Times · 22d ago

Engineer or MBA? Narayana Murthy shares what really matters in this AI world

Infosys co-founder N.R. Narayana Murthy emphasizes not fearing AI but embracing it to enhance productivity. He recalls how technology’s introduction in the past increased jobs and predicts AI will do the same. Murthy, a daily user of ChatGPT-4, shows how AI can vastly improve work efficiency, reducing his preparation time for lectures. He advocates for a mindset shift, viewing AI as a collaborator that pushes for smarter problem-solving and strategic human roles.

Pixar exec slams 3 A.M. calls as toxic, cites Jobs, Musk, and Bezos as icons of a culture he’s leaving behind

Economic Times

Economic Times · 1m ago

Pixar exec slams 3 A.M. calls as toxic, cites Jobs, Musk, and Bezos as icons of a culture he’s leaving behind

Pixar executive Pete Docter criticized the "always-on" work culture exemplified by leaders like Steve Jobs, Elon Musk, and Jeff Bezos, where employees are expected to be available at all hours. Docter referenced Steve Jobs' habit of contacting Pixar employees at odd hours, which contributed to a stressful work environment he wishes to avoid fostering. This leadership style is prevalent, with Musk and Bezos also known for demanding high availability from their employees, potentially impacting work-life balance.

LGBTQ+ dating app Grindr’s Return-to-Office Ultimatum Has Gutted a Uniquely Queer Space in Tech

Wired · 1y ago

LGBTQ+ dating app Grindr’s Return-to-Office Ultimatum Has Gutted a Uniquely Queer Space in Tech

LGBTQ+ dating app Grindr faced backlash and union complaints when it mandated its remote employees to work in the office two days a week starting in October. Employees were given two weeks to accept this policy or lose their jobs. A total of 82 out of 178 employees, or 46% of the staff, rejected the mandate and were subsequently let go. The Communications Workers of America filed unfair labor practice charges against Grindr, accusing it of suppressing discussion of working conditions in company chats and through severance agreements offered to terminated employees.

Meesho enables 8.5 lakh job opportunities this festive season

YourStory

YourStory · 10m ago

Meesho enables 8.5 lakh job opportunities this festive season

Meesho, an affordable marketplace, has created 8.5 lakh seasonal job opportunities this festive season, a 70% increase from the previous year. Over 60% of the jobs were in Tier III and IV regions. Meesho's sellers have hired 5 lakh seasonal workers, while partnerships with logistics providers have generated an additional 3.5 lakh jobs. The company aims to make ecommerce accessible and inclusive, introducing value-added services and emphasizing women's participation. Flipkart, another ecommerce platform, plans to create over 1 lakh jobs ahead of its Big Billion Days sale.

Elon Musk calls working on weekends a ‘superpower’

Economic Times

Economic Times · 5m ago

Elon Musk calls working on weekends a ‘superpower’

Tesla CEO Elon Musk sparked debate by calling weekend work a "superpower," critiquing U.S. bureaucrats for not working weekends and comparing it to an opponent leaving the field for two days. His comments, echoing those of others like Narayana Murthy and S N Subrahmanyan who have advocated for longer work weeks, have intensified discussions on work-life balance. Musk's remarks coincide with his intense role at the Department of Government Efficiency, reportedly even sleeping at its headquarters.

AI will create more jobs for freshers: Cognizant CEO Ravi Kumar

Economic Times

Economic Times · 1m ago

AI will create more jobs for freshers: Cognizant CEO Ravi Kumar

Cognizant CEO Ravi Kumar claims AI will generate more jobs for freshers, despite fears of job losses. He argues that AI lowers expertise requirements, enhancing productivity, especially for junior developers whose productivity rose by 37%. As AI tools proliferate, engineering roles will shift from coding to guiding AI agents. Kumar believes that rather than reducing jobs, AI's cost-efficiency will lead companies to expand operations, reflecting Google's Sundar Pichai's view on AI's role in meaningful work.

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