The widespread reputation of ChatGPT has prompted different massive corporations like Google to launch their very own AI companies to compete. Nevertheless, it isn’t simply tech corporations getting into the AI race.
JP Morgan Chase is creating a “ChatGPT-like” service that may use synthetic intelligence to assist prospects choose investments, CNBC reported.
In accordance with a submitting in New York, JP Morgan utilized to trademark the product “IndexGPT.” The service will use synthetic intelligence and cloud computing software program to investigate and choose securities “tailor-made to buyer wants,” the submitting states.
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Whereas it is unclear when the product will launch, the trademark may sign that it may be within the close to future.
“Corporations like JP Morgan do not simply file logos for the enjoyable of it,” Josh Gerben, a trademark legal professional in Washington D.C. advised CNBC. “The submitting features a sworn assertion from a company officer basically saying, ‘Sure, we plan on utilizing this trademark.'”
IndexGPT may additionally solely be certainly one of a number of AI merchandise in growth at JP Morgan. Throughout the firm’s annual investor convention on Monday, Lori Beer, international expertise chief on the firm, mentioned that the financial institution is testing “a variety of use circumstances” for AI expertise.
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“We’re actively evaluating alternatives with giant language fashions and see nice potential in that house,” she added.
Entrepreneur has reached out to JP Morgan for remark.
