Earlier this month, financial giant JPMorgan Chase filed a trademark application for a financial-themed chatbot called IndexGPT. Chatbots will be used for advertising and marketing services, stock valuation indicators, online financial information and investment advice, according to a filing filed with the US Patent and Trademark Office on May 11.
“AI and the raw material that feeds it, data, are critical to our future success,” JPMorgan Chase CEO Jamie Dimon said in a letter to shareholders in April. . “The importance of adopting new technology cannot be overemphasized.”
In a February survey by JP Morgan, more than half of institutional traders surveyed said artificial intelligence and machine learning will be the most influential technologies shaping the future of trading over the next three years. .
JP Morgan aims to leverage artificial intelligence in the financial system, saying the company has dedicated more than 2,000 data managers, data scientists and machine learning engineers to building AI capabilities, and artificial intelligence is cloud-based. It is said that it is “closely linked” with the system of Public or Private, and Digital Features.
“A native cloud-based approach will ultimately be faster and cheaper, work with the latest AI techniques, and provide easy access to ever-evolving developer tools,” said Dimon. .
Since OpenAI’s ChatGPT was released in November and its latest version, GPT-4, was released in March, companies around the world have been racing to develop AI-based tools. Berkshire Hathaway likened it to an “arms race.” CEO Warren Buffett.
The financial industry is particularly interested in the data processing power of AI. In March, British artificial intelligence engineer Mayo Osin developed a bot named after Buffett to analyze large financial documents.
As AI continues to go mainstream, more and more voices, including Microsoft president Brad Smith, are sounding the alarm about the potential harm of unregulated artificial intelligence.
“Governments need to act faster,” Smith said at a panel discussion in Washington, D.C., on Thursday morning.
JPMorgan Chase Refused Decryption Request for comments.