JPMorgan is developing an analogue of ChatGPT

The American bank JPMorgan Chase is developing its own analogue of the ChatGPT chat bot for distributing investment advice to clients.

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JPMorgan Chase is preparing its own version of the ChatGPT chatbot, which will select investment advice for bank clients. It is reported by CNBC with reference to the registered trademark of the financial institution.

The novelty will be called IndexGPT. In the explanatory note, the bank claims that the chatbot will rely on cloud computing and artificial intelligence to match stocks to customers. The bank is expected to introduce its chatbot in the next three years. The chatbot from JPMorgan will be based on the same generative pre-trained transformer (GPT) model as ChatGPT.

Officially, the American bank did not comment in any way on reports about the development of its own chat bot. Earlier, the head of information management at JP Morgan, Lori Beer, admitted that the bank is considering various scenarios for using GPT technology, but did not go into specifics, writes CNBC.

Notably, JPMorgan previously banned employees from using ChatGPT. Also, the use of a chatbot in the workplace was banned by Bank of America, Goldman Sachs and Citigroup. What exactly caused the ban is unclear. However, earlier the Korean giant Samsung was the victim of a confidential data leak due to the use of ChatGPT.

Apple remains cautiously optimistic about chatbots. The company also banned employees from using ChatGPT at work, however, it seems that Apple intends to develop its own analogue of artificial intelligence technology. Earlier it became known that the Cupertino corporation is looking for a dozen specialists in the field of machine learning interested in the development of “extraordinary autonomous systems.”

Other jobs target neural network experts to help edit images, videos, and create 3D avatars. It’s not clear if Apple is looking to develop a new product or wants to cover needs for existing projects.