AI could be as big as the internet [Video]

JPMorgan Chase CEO and chairman Jamie Dimon believes artificial intelligence innovations will have as big of an impact on society as the invention of electricity and the internet.

“We are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years,” Dimon said in his April 8 annual letter to shareholders. “Think the printing press, the steam engine, electricity, computing and the Internet, among others.”

JPMorgan Chase began using AI over a decade ago, Dimon said in the letter. The firm employs over 2,000 AI and machine learning experts and data scientists and uses the technology across a number of divisions, including marketing, fraud and risk. Additionally, JPMorgan Chase invests $12 billion annually in a wide variety of technologies, including AI.

Dimon likening AI innovation to the invention of the internet suggests the tech’s impact may be felt beyond the business world. And he’s not …