JPMorgan Chase Leverages IndexGPT Trademark in AI Competition

June 5, 2023

According to the application, IndexGPT would select stocks that would best satisfy customers by analyzing and making use of “cloud computing technology with artificial intelligence.”

JPMorgan’s New GPT Model The ChatGPT technology that OpenAI developed last year became so popular that it forced entire businesses to deal with artificial intelligence. ChatGPT, which uses language models to answer questions, has sparked an arms race between digital giants and chipmakers over what is considered the next fundamental breakthrough.

The monetary administrations behemoth JPMorgan Pursue has presented a brand name enlistment for IndexGPT, flagging its support in the opposition to make a generative computer based intelligence device for business use. The expression “IndexGPT,” which JPMorgan means to use in business, was the subject of a brand name application submitted to the US Patent and Brand name Office (USPTO) on May 11.

Marketing, business consulting, and other software-as-a-service (SAAS) applications with a financial focus are just a few examples of the many applications that IndexGPT can be used in.

JPMorgan CEO Jamie Dimon has made public statements regarding artificial intelligence (AI). The company has over 300 AI use cases to address risk, prospecting, marketing, customer experience, and fraud protection, according to information Dimon provided in April.

“AI and the raw material that feeds it, data, will be critical to our company’s future success — the significance of implementing new technologies simply cannot be overstated,” he stated. Using ChatGPT and other cutting-edge large language model technology, JPMorgan wants to give its employees more freedom.

Enormous Players Like Apple Restricting ChatGPT
While computerized behemoths from all business areas are speeding up their utilization of generative AIs, Mac has switched course and put limitations on ChatGPT and equivalent items.

As per a Money Road Diary article, Apple has taboo its staff from utilizing ChatGPT, a simulated intelligence device financed by Microsoft, and comparative ones as the business attempts to make its own artificial intelligence innovation.

The paper guarantees that the iPhone designer is stressed over representatives using the applications and uncovering private corporate data.

Copilot, a Microsoft-owned AI product for GitHub that automates software code creation, was also mentioned as having a limitation.

The ChatGPT iOS programming made its presentation on May 18 in the Apple Programming Store prior to getting this inside denial.

The new programming is by and by open to iPhone and iPad clients in the US, however it will likewise be made accessible in different countries “before long” and an Android adaptation will be delivered “soon.”

ChatGPT usage within major corporations has also been restricted. On May 2, Samsung prohibited the use of ChatGPT and other generative AI technologies in a note to its employees.

The Development of Technologies That Could Replace Their Position in the Market: Financial Advisors’ Concerns About the Middlemen The majority of those fears have not yet materialized.

Wealth management companies like Morgan Stanley and Bank of America’s Merrill have simple robo-advisor services, but their human advisers have still amassed billions more in assets.

At the organization’s yearly financial backer gathering recently, JPMorgan authorities boasted about their achievements in coordinating man-made reasoning all through their activities.

The bank, which employs 1,500 data scientists and machine-learning specialists, is utilizing GPT technology to investigate “a number of use cases,” as stated by global IT head Lori Beer.

JPMorgan’s trademark application shows that the company is committed to AI and that it has the potential to completely change the financial services industry. However, it is yet to be seen how the business will utilize IndexGPT and other AI technologies to enhance its business processes.

Source – thecoinrepublic

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