Jamie Dimon

“I'm far more worried than others about a serious market correction — if the market is pricing in 10%, I'd say it's more like 30%; it could be six months, could be two years. AI is real and in total will pay off, just like cars and TV paid off, but most people involved in it didn't do well, and a lot of the money going in now will probably be lost.”

The two-year window runs to October 2027. As of September 2026 the S&P 500 sits near record highs (~7,600) after an ~8% drawdown in late February–March 2026 that did not reach the conventional 10% correction threshold.

“Hyperscaler AI spending could reach $1 trillion next year, up from about $700 billion this year and roughly $300 billion last year. 'That's like a 1% increase to GDP each year and obviously it may add a little bit to inflation because you're hiring people, you're building factories, you're buying equipment and copper wires, and building powerplants and all of that.'”

Resolves against total 2027 hyperscaler-ecosystem AI capital spending.

“It's going to affect every application, every job, every customer interface. My guess is the developed world will be working three and a half days a week in 20, 30, 40 years, and have wonderful lives.”

Dimon gave a 20-to-40-year range, so the entry is graded at the far end (2065) on average hours worked in developed economies; a ~3.5-day norm would be roughly a 30% cut from today's full-time week.