JPMorgan CEO Jamie Dimon has said he believes artificial intelligence (AI) will likely improve the quality of life for the next generation of workers substantially, although the technology will also likely cost some people their jobs.

Speaking in an interview with Bloomberg, Dimon predicted that every single process was going to incorporate artificial intelligence into its operations. He added that thousands of employees at his bank were already employing the technology.

He added, “Your children are going to live to 100 and not have cancer because of technology. And literally they’ll probably be working three-and-a-half days a week.”

According to a recent report by the data consultancy Evident, between February and April of this year the New York-based investment bank advertised to fill over 3,500 AI-related jobs. Dimon has previously characterized AI as “an absolute necessity,” calling it crucial to the future success of his company.

However he has pointed out the technology is not without its downsides, specifically the loss of jobs for humans, which it will end up performing. Additionally, he also cites the threats of misuse.

He said, “Technology has done unbelievable things for mankind but, you know, planes crash, pharmaceuticals get misused — there are negatives. This one, the biggest negative in my view is AI being used by bad people to do bad things.”

A recent report by the OECD predicted that the AI revolution may end up threatening over a quarter of the jobs in the 38-member union. Meanwhile another report by Goldman Sachs forecast that roughly two-thirds of American and European jobs will be ex[posed to some degree of automation from AI, and that a quarter of current jobs may be entirely replaced by generative AI.