Jeffrey Immelt on AI cost reduction
From Leadership & the Autonomous Enterprise: A Conversation with Former GE CEO Jeff Immelt | Imagine 2026 · · Automation Anywhere
“You can basically run uh a big scale insurance company like Nationwide with maybe 80% less what I would call frictional cost. I don't want to pick on people, but just say frictional cost, it's not even close. you know, if you build it from the ground up versus where it is.”
On , Jeffrey Immelt, Former Chairman & Chief Executive Officer at GE Aerospace, spoke about AI cost reduction during Leadership & the Autonomous Enterprise: A Conversation with Former GE CEO Jeff Immelt | Imagine 2026 on Automation Anywhere.
About Jeffrey Immelt
Jeffrey Immelt, former Chairman and CEO of General Electric, participated in two public events in May 2026. At the Imagine 2026 conference on May 19, Immelt discussed leadership during technological disruption and the adoption of AI. He stated that an "AI winter" is inevitable, where people may say "it doesn't work" or that too much money has been spent, and emphasized the importance of perseverance through such crises. Immelt also said that AI will differentiate performance between hospitals, banks, and airlines, and that leaders must "exercise new muscles." He advised that tech professionals should not be the ones to explain technology to the public, saying "we should never let tech people talk about tech." On May 1, Immelt appeared as the inaugural Teevens Center Leadership Fellow at Dartmouth College. During the conversation, he said that leadership involves giving people truth and context, and that "there are two magic words to being a leader: blame me." He reflected on his own experience with imposter syndrome, stating he was "not comfortable enough in my own skin to say, I don't know." Immelt also commented on organizational culture, saying "your culture is only as good as the worst person you're willing to tolerate." He praised Dartmouth's current position, calling it "the best house in a bad neighborhood" and a "differentiated opportunity."