JP Morgan Plans to Release Investment App Similar to ChatGPT

JP Morgan announced that it will be launching a new investment app called IndexGPT, which incorporates artificial intelligence (AI) technology. The app uses AI-powered cloud computing to analyze and select securities that are tailored to customer needs. It is also being trademarked for potential use in advertising, marketing services, and clerical and administrative tasks. The success of ChatGPT has encouraged companies to explore ways of improving productivity and efficiency. Jamie Dimon, the CEO of JPMorgan Chase emphasized the importance of AI in a letter to shareholders, noting its significant value in risk assessment, marketing, customer experience, and fraud prevention. The company has a strong AI infrastructure, with over 1,000 individuals involved in data management, 900 data scientists, and 600 machine learning engineers. However, critics argue that governments need to act swiftly to establish guidelines for AI implementation as the AI race intensifies.