05.25.23

JPMorgan Is Developing a ChatGPT-like AI Service That Gives Investment Advice

by: Hugh Son

JPMorgan Chase is developing a ChatGPT-like software service that leans on artificial intelligence (AI) to select investments for customers. The company applied to trademark a product called IndexGPT this month. The product will tap “cloud computing software using AI” for “analyzing and selecting securities tailored to customer needs,” according to the filing. Executives at JPMorgan recently touted their progress in applying AI across operations at the company’s annual investor conference. The bank, which employs 1,500 data scientists and machine-learning engineers, is testing “a number of use cases” for GPT technology, said global tech chief Lori Beer.

Read the full article on CNBC