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Trademarked as the ‘IndexGPT’, the JPMorgan investment chatbot will use cloud computing and artificial intelligence to help customers select financial securities that fits their needs
As companies around the world continue to harness the power of artificial intelligence to their advantage, we are seeing new AI tools being announced in almost every other industry, with the latest one being ‘investments’, yes you read that right, an AI chatbot can now be your personal investment advisor.
JPMorgan, a leading global financial services firm, has recently announced that it is launching an AI chatbot that will provide investment advice to its customers.
Currently Trademarked as the ‘IndexGPT’, the JPMorgan AI investment chatbot will use cloud computing and artificial intelligence to help their customers select financial securities and plans that fits their needs.
Announcing this new AI Chatbot, JPMorgan might become the first financial institution to offer an AI product directly to its customers, says trademark attorney Josh Gerben.
JPMorgan has not announced any release date for the AI investment chatbot, however the trademark filing for the chatbot indicates that the company might release it soon. This is because, it is legally required to release the product within three years of filing for a trademark.
Understanding and remembering different investments can be difficult for the common man not associated with the finance industry, even discouraging the common man to pick up investing as a habit, however with tools such as these, people will feel more in control, since they will have a better understanding of their investment plans and options.
Apart from this amazing new AI investment chatbot, we might see JPMorgan release other interesting AI tools in the finance industry since Lori Beer, the global technology chief at JPMorgan says that the company is working on other AI products as well.
Beer revealed that the company currently has a team of 1,500 data scientists and engineers, exploring various applications for AI technology such as ChatGPT and other large language models with a potential to help the company.
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