India, Oct. 17 -- JPMorgan Chase CEO Jamie Dimon has compared the rapid advancement of artificial intelligence (AI) to a tsunami, warning that even governments may struggle to prevent its spread. However, he believes the technology could eventually lead to shorter working weeks and significantly higher incomes.

(Also read: JPMorgan CEO Jamie Dimon says only 'people in the middle' complain about return-to-office)

Speaking at the Economic Club of Chicago on Wednesday, October 14, Dimon said AI was advancing much faster than previous technological revolutions, with new capabilities emerging within weeks, according to a report by Business Insider.

"This is doing stuff today that no one would have imagined was possible literally five weeks ...