Jpmorgan: JPMorgan’s ChatGPT-like AI chatbot will give you investment advice – Times of India

Over the last few months, AI, especially ChatGPT, has sent the tech giants into a frenzy. But it is not just Google, Amazon, or Meta, who are worried, but also others now want to dip their toes into the waters.
The AI-powered chatbot of JP Morgan Chase, which is said to be similar to ChatGPT helps customers make investment decisions, according to a report from CNBC.
JPMorgan might be the first financial institution to offer a GPT-like product directly to its customers, trademark attorney Josh Gerben told CNBC.
While the launch date is unknown, the trademark filing indicates that it may happen soon. Since the bank has up to three years from the approval of the trademark to launch IndexGPT.
The chatbot trademarked as “IndexGPT,” will use cloud computing software and AI to analyse and select securities that fit the customer’s specific needs, helping them select financial securities specifically tailored for them.
JP Morgan is also working on other AI products, according to Lori Beer, the global technology chief at the company. During their annual investor conference, she mentioned that the bank is testing various use cases for AI technology.

The bank has a team of 1,500 data scientists and machine-learning engineers who are currently testing various applications for GPT technology. According to Beer, they are exploring the potential of GPT and large language models to offer value to the company. Beer emphasised the importance of A.I. in this context and the commitment to fully explore these tools’ possibilities.
JP Morgan Chase is among the companies, including Apple, Samsung and others have restricted the use of ChatGPT, and other similar AI chatbots, at the workplace over privacy concerns. The corporations fear that the use of third-party chatbots at work could lead to exposure of confidential information.