JP Morgan Chase is moving into the AI-powered chatbot sector with the development of a new chatbot, similar to ChatGPT, aimed at guiding clients towards sound investment decisions. Known as IndexGPT, the chatbot will use cloud computing software and AI capabilities to analytically select securities that meet the customer’s specific requirements. The America-based bank is among the first institutions to launch a GPT-type product directly to consumers, according to trademark lawyer Josh Gerben. Furthermore, JP Morgan Chase is exploring the use of massive language models to better benefit their clients, stating the significance of AI in this situation and the dedication to properly examine AI’s potential.
Lori Beer, the global technology leader for JP Morgan, has revealed that the bank is looking into developing AI products and evaluating several use cases for AI technology. As per CNBC, JP Morgan’s data science and machine-learning team of 1,500 experts is currently testing various GPT applications to advance the application’s benefits within the firm. The launch date for IndexGPT is unknown due to the company’s three-year window to launch the trademark registered name. JP Morgan Chase is among the list of companies, including Apple and Samsung, that have limited the use of AI chatbots in the office due to privacy concerns when it comes to using third-party chatbots within the workplace environment.
In conclusion, JP Morgan is looking to diversify its investment offerings by introducing an AI-powered chatbot, known as IndexGPT, which will help customers to select securities that align with their unique needs. The company is exploring additional use cases for AI and evaluating massive language models and GPT technology to offer improved solutions. Finally, in collaboration with a team of 1,500 experts in data science and machine-learning, JP Morgan is currently testing various GPT-type applications and seeks to evaluate the potential of such tools properly.
