I've worked in companies very similar to JPMorgan, and I've learned to be very skeptical about claims like this, because I've heard many.

Frequently, work hasn't been destroyed, only shuffled. Between departments (see, our forecasting workload has plummeted! In unrelated news, our model validation teams have grown!) or offshore (our worker-hours on this project are down! In unrelated news, we've initiated a contract with an offshore company that specializes in this type of work)

So, yeah, sure, maybe. I trust there is some interpretation of reality in which this investor-bait is technically true.

Alternative take: I'm glad to see them acknowledge how little value there is to their work. Maybe soon we'll be able to replace the whole of JPMorgan with an AI chatbot then.