Tag: Goldman Sachs

In this article, Josh Lipsky, Senior Director of the Atlantic Council’s GeoEconomics Center, talks about the potential debt default and its potential effects on US economy i.e. recession, higher unemployment and fewer government benefits. Also, Bank of America analysts shed light on potential liquidity drain due to Treasury Department’s issuance and how smaller firms may benefit in the housing market.

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JP Morgan, one of the world's leading financial services and investment companies, has recently announced its plans to develop AI software for advising investments. Drawing inspiration from OpenAI's ChatGPT frenzy, the company has applied for a trademark for the product named IndexGPT. It would use cloud computing and AI to analyse and select securities best suited to customers' needs. Goldman Sachs and Morgan Stanley have already begun testing AI in their internal operations. Strategic analysts suggest it could significantly increase US profit margins long-term.

Nvidia is a leader in the AI technology market and its founder Jensen Huang is a Taiwanese-American entrepreneur with a net worth of over $14 billion. The COVID-19 pandemic has accelerated the demand for Nvidia's technology, leading to a surge in profits and stock prices. Analysts predict more growth for the chip-maker in the AI sector, fueled by increased investments from companies looking to take advantage of this technology gold rush.

JPMorgan kicked off the AI-progress in banks by filing for a ChatGPT trademark, as reported by CNBC. This tool utilizes AI to provide customers with investment advice and with other AI-driven initiatives, JPMorgan is on track for their $1 billion goal. However, despite the competition between tech giants, the bank still restricts 3rd-party software. ChatGPT is revolutionizing banking and will play a major part in the future.