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JPMorgan Chase recordsdata trademark utility for IndexGPT, signaling entry into generative AI race
JPMorgan Chase, a monetary providers big, has filed a trademark utility for IndexGPT, marking its official entry into the race to construct a generative AI software for enterprise functions. In accordance with JPMorgan, the applying was filed with the USA Patent and Trademark Workplace on Could 11, 2023, for the characters “IndexGPT,” which is for use in commerce. The trademark can be used throughout varied enterprise models, together with promoting, enterprise consulting, and totally different finance-focused software program as a service.
The Significance of AI for JPMorgan Chase
The submitting of the trademark displays the CEO, Jamie Dimon’s, views on artificial intelligence (AI). In April, Dimon revealed that JPMorgan has over 300 AI use circumstances in manufacturing for danger, prospecting, advertising and marketing, buyer expertise, and fraud prevention. He said, “AI and the uncooked materials that feeds it, information, can be important to our firm’s future success — the significance of implementing new applied sciences merely can’t be overstated.”
Empowering Staff with ChatGPT and different Giant Language Mannequin Instruments
JPMorgan additionally plans to empower its staff with ChatGPT and different giant language mannequin instruments.
Apple’s U-Activate Generative AIs
Whereas tech giants throughout all business verticals are fast-tracking their way into adopting generative AIs, Apple took a U-turn by limiting ChatGPT and related instruments. An inner doc revealed Apple’s concerns about the possible compromise of sensitive data. Whereas highlighting the fears of exposing confidential data, Apple particularly restricted the usage of GitHub’s AI software, Copilot, which is a Microsoft-owned utility that automates writing software program code.
Often Requested Questions
What’s IndexGPT?
IndexGPT is a generative AI software for enterprise functions developed by JPMorgan Chase.
What’s JPMorgan’s place on AI expertise?
JPMorgan CEO, Jamie Dimon, has expressed his perception that AI and information can be important to the corporate’s success, with over 300 AI use circumstances already in manufacturing for varied enterprise functions.
What enterprise models will IndexGPT be utilized in?
IndexGPT can be used throughout varied enterprise models, together with promoting, enterprise consulting, and totally different finance-focused software program as a service.
Why did Apple prohibit ChatGPT and related AI instruments?
Apple restricted the usage of ChatGPT and related AI instruments as a consequence of issues in regards to the doable compromise of delicate information. An inner doc revealed their fears of exposing confidential data and particularly restricted the usage of GitHub’s AI software, Copilot, which automates the writing of software program code.
Will JPMorgan staff have entry to ChatGPT?
Sure, JPMorgan plans to empower its staff with ChatGPT and different giant language mannequin instruments.
Conclusion
The submitting of the trademark utility for IndexGPT by JPMorgan Chase marks its official entry into the race to construct a generative AI software for enterprise functions. The transfer is in keeping with CEO Jamie Dimon’s perception that AI and information are important to the corporate’s future success. Whereas some corporations like JPMorgan are embracing generative AIs, others like Apple are taking a U-turn, limiting the usage of related instruments as a consequence of issues about information safety.
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