IndexGPT: JPMorgan's Game-Changing Investment Tool for Smart Investing

American global monetary administrations organization JPMorgan Pursue has applied to reserve an item called IndexGPT, showing improvement of a ChatGPT-like programming administration that utilizes man-made brainpower (computer-based intelligence) to choose ventures for clients.

As per a report by CNBC, the recording in the New York-based bank peruses as follows: For the purpose of "analyzing and selecting securities tailored to customer needs," IndexGPT will utilize "cloud computing software using artificial intelligence."

This comes after JPMorgan reported record revenue for the first quarter of its fiscal year. Additionally, it recently acquired the failed First Republic Bank, which the lender anticipates will increase its annual profit by $500 million.

Organizations from all walks of life have been looking into ways to make the most of the generative AI app ChatGPT ever since it was released, from coming up with marketing concepts to designing the code. While some businesses, including Apple, Goldman Sachs, Samsung, and even JP Morgan, have advised their employees not to use the app out of concern for data leaks and other security concerns, others are utilizing ChatGPT to save time and accomplish objectives more quickly.

"We use ChatGPT to write code," Freshworks CEO Girish Mathrubootham told Fortune, adding that software development, which used to take between eight and ten weeks, can now be completed "in less than a week."

According to a recent Goldman Sachs survey, generative AI tools like ChatGPT could automate approximately 300 million full-time jobs worldwide.

Source - Cnbctv18