JPMorgan Wants to Apply AI to Investment Advice

WebProNews
JPMorgan Wants to Apply AI to Investment Advice

JPMorgan is getting in on the AI game, with plans to develop a ChatGPT-like AI that will help customers with their investments.

According to CNBC, JPMorgan has filed for a trademark for “IndexGPT.” The application says IndexGPT will rely on “cloud computing software using artificial intelligence” for “analyzing and selecting securities tailored to customer needs.”

Some experts believe JPMorgan could be on the verge of revolutionizing the investment industry.

“This is a real indication they might have a potential product to launch in the near future,” trademark attorney Josh Gerben told CNBC.

“Companies like JPMorgan don’t just file trademarks for the fun of it,” he said. The filing includes “a sworn statement from a corporate officer essentially saying, ‘Yes, we plan on using this trademark.’”

“It’s an A.I. program to select financial securities,” Gerben added. “This sounds to me like they’re trying to put my financial advisor out of business.”

ChatGPT revolutionized the AI field, capturing people’s imagination and forcing industries to face the reality that AI is evolving fast enough to have a meaningful impact. If JPMorgan is successful, it could usher in a whole new era for finance and investing.

JPMorgan Wants to Apply AI to Investment Advice
Staff

from WebProNews https://ift.tt/HDKvrmf