Wall Street’s ChatGPT Nightmare Is Over Before It Starts as Banks Crack Down
by: Katherine Doherty
Wall Street banks are taking steps to limit or prohibit the use of artificial intelligence models like ChatGPT, including JPMorgan Chase, Bank of America and Citigroup. Global banks that paid $2 billion in U.S. sanctions when their employees embraced unmonitored communications channels such as WhatsApp for business are among those most concerned. JPMorgan has already restricted its staff’s use of ChatGPT, according to an insider, as have Citigroup, Goldman Sachs Group, Deutsche Bank and Wells Fargo. Bank of America told employees that ChatGPT and openAI are prohibited from business use, say sources. In their regular, routine reminder of unauthorized apps including WhatsApp, the bank added a reference to ChatGPT specifically and has repeated in internal meetings that new technology must be vetted before it can be used in business communications.
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