Tech companies have recently been in a frenzy due to AI, particularly ChatGPT. But not only Google, Amazon, or Meta are concerned; other companies are also starting to dangle their toes in the water.
According to a CNBC story, JP Morgan Chase’s AI-powered chatbot, which is reported to be comparable to ChatGPT, aids clients in making investing decisions.
According to trademark lawyer Josh Gerben, JPMorgan might be the first financial institution to directly sell a GPT-like product to its consumers.
The trademark filing suggests that even if the debut date is unknown, it might happen soon. Since the bank has three years to launch IndexGPT following the trademark’s clearance,
The chatbot, whose name has been registered under the trademark “IndexGPT,” will employ cloud computing software and AI to assess and choose securities that meet the customer’s unique needs. This will assist them in choosing financial assets that are personalised to their needs.
According to JP Morgan’s global technology leader, Lori Beer, the corporation is also developing further AI products. She noted that the bank is evaluating several use cases for AI technology during their annual investor meeting.
A team of 1,500 data scientists and machine-learning experts working for the bank are now testing several GPT applications. Beer claims that they are looking into how massive language models and GPT might be able to benefit the company. Beer stressed the significance of AI in this situation and the dedication to properly examining the potential of these instruments.
JP Morgan Chase is one of the businesses that has limited the usage of ChatGPT and other comparable AI chatbots in the office due to privacy concerns, along with Apple, Samsung, and others. The use of third-party chatbots at work could expose sensitive information, according to the corporations.
A ChatGPT-Like AI Chatbot From JPMorgan Will Offer You Investment Guidance
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