The widespread reputation of ChatGPT has prompted different massive corporations like Google to launch their very own AI companies to compete. Nonetheless, it is not simply tech corporations coming into the AI race.
JP Morgan Chase is creating a “ChatGPT-like” service that may use synthetic intelligence to assist clients choose investments, CNBC reported.
In keeping 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 research 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 emblems for the enjoyable of it,” Josh Gerben, a trademark legal professional in Washington D.C. instructed CNBC. “The submitting features a sworn assertion from a company officer primarily saying, ‘Sure, we plan on utilizing this trademark.'”
IndexGPT can also solely be considered one of a number of AI merchandise in improvement at JP Morgan. Through the firm’s annual investor convention on Monday, Lori Beer, world know-how chief on the firm, mentioned that the financial institution is testing “various use instances” for AI know-how.
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“We’re actively evaluating alternatives with massive language fashions and see nice potential in that area,” she added.
Entrepreneur has reached out to JP Morgan for remark.