JPMorgan trademarks ChatGPT like investment advisor 'IndexGPT'

JPMorgan Chase has applied to trademark a product called IndexGPT, as per a report by CNBC. IndexGPT would be a ChatGPT like software service that uses artificial intelligence to give investment advice to users.

According to the CNBC report, the filing in the New York-based bank says: IndexGPT will tap in to “cloud computing software using artificial intelligence” for “analyzing and selecting securities tailored to customer needs.”

Since chatgpt was launched, many companies have been working on ways to make the most of it. But, there are companies including JPMorgan, Apple, Goldman Sachs which have asked its employees to stay away from ChatGPT due to security risks and possible data leaks.

This comes, more than a month after JPMorgan reported a record high revenue in the first quarter of the fiscal. It has also bought First Republic Bank that collapsed.