JPMorgan Chief Executive Jamie Dimon has warned that high leverage across financial markets could amplify disruptions, while also saying that the wave of excessive spending on artificial intelligence is coming to an end.
Dimon cautioned that hidden borrowing remains elevated, and that investors should be mindful that it could magnify market shocks. He said, in effect, that someone will disrupt the market.
On AI, Dimon said businesses are now focusing on return on investment and token efficiency, shifting queries to cheaper AI models as costs rise. He described the trend as part of a broader enterprise move toward data security and cost management.
The comments reflect a growing sentiment among business leaders, who are also advocating for using appropriately sized and cost-effective AI models rather than pouring money into the largest systems.