JPMorgan Applies for IndexGPT

JPMorgan Chase has indicated that it will participate in the competition to develop a generative artificial intelligence (AI) business by filing a trademark application for the name IndexGPT.

On May 11, JPMorgan submitted an application for a trademark to the United States Patent and Trademark Office (USPTO) for the characters “IndexGPT,” which are intended for use in commercial settings.

The text that accompanied JPMorgan’s application for a trademark can be seen displayed in standard characters in the image that can be found above: “without claim to any particular font style, size, or color.”

IndexGPT will be utilized across a wide variety of business units, including advertising, business consulting, and various software as a service (SAAS) services that are focused on the financial industry.

The views of JPMorgan Chief Executive Officer Jamie Dimon on artificial intelligence are reflected in the company’s trademark application.

In April, Dimon revealed that the company uses more than 300 AI use cases to mitigate risk, improve prospecting and marketing, enhance the customer experience, and prevent fraud. 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.”

According to what he said, JPMorgan plans to provide its workforce with ChatGPT and other tools for building large language models.

Apple has reversed its policy and now prohibits the use of ChatGPT and other tools of a similar nature, whereas other tech giants in various industries are moving quickly to implement generative AIs.

An internal document at Apple revealed that the company is concerned about the possibility of sensitive data being compromised.

Apple has restricted the use of an artificial intelligence tool called Copilot that is hosted on GitHub. Copilot is an application that Microsoft owns, and it is designed to automate the process of writing software code.

Apple has raised concerns regarding the exposure of confidential data.