JP Morgan Developing AI Investment Advisor as Alternative to ChatGPT

JP Morgan is set to launch an artificial intelligence (AI) service called “IndexGPT” that will provide investment advice to its customers. The software service will use AI to analyze and select securities based on customers’ needs. While other banks like Goldman Sachs and Morgan Stanley have already begun testing AI technology for internal use, JP Morgan’s product may be the first GPT-like financial product designed for use by retail customers. The trademark filing includes a “sworn statement from a corporate officer” confirming that the bank intends to use the trademark. Trademarks typically take close to a year to be approved, after which the bank will have three years to actually launch IndexGPT. Financial commentator and Bitcoin critic Peter Schiff was less than optimistic about JP Morgan’s plans for AI-based investment advice. The original ChatGPT, when asked for concrete investment advice, says it “cannot provide specific investment advice” because it does not “have access to real-time market data or financial information.” However, the bot noted this week that Bitcoin’s price has the potential to surge after the 2024 Bitcoin halving, due to a “reduction in [BTC] supply, coupled with continued demand or increased market interest.”

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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