JPMorgan Chase, a financial services giant, has filed a trademark application for IndexGPT, indicating its entry into the race to develop a generative AI tool for business purposes. The trademark application was filed with the United States Patent and Trademark Office (USPTO) on May 11 for the characters “IndexGPT,” which JPMorgan plans to use in commerce. IndexGPT will be utilized across various business units, including advertising, business consulting, and various finance-focused software as a service (SAAS) services, among others.
JPMorgan’s CEO Jamie Dimon has been vocal about his thoughts on artificial intelligence (AI). In April, Dimon revealed that the company has over 300 AI use cases in production for risk, prospecting, marketing, customer experience, and fraud prevention. He stated, “AI and the raw material that feeds it, data, will be critical to our company’s future success — the importance of implementing new technologies simply cannot be overstated.” JPMorgan plans to empower its employees with ChatGPT and other large language model tools.
While tech giants across all business verticals are fast-tracking their way into adopting generative AIs, Apple took a U-turn by restricting the use of ChatGPT and similar tools. An internal document revealed Apple’s concerns about possible compromise of sensitive data. While highlighting the fears of exposing confidential data, Apple also specifically restricted the use of GitHub’s AI tool Copilot, a Microsoft-owned application that automates writing software code.
JPMorgan’s trademark filing is a reflection of the company’s commitment to AI and its potential to revolutionize the financial services industry. However, it remains to be seen how the company will utilize IndexGPT and other AI tools to enhance its business operations.
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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