JPMorgan Chase enters generative AI race with IndexGPT trademark
JPMorgan’s ChatGPT rival, IndexGPT, will be used across various business units, including advertising, business consulting and different finance-focused software.
Financial services giant JPMorgan Chase filed a trademark application for IndexGPT, marking its entry into the race to build 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, according to JPMorgan, is to be used in commerce.
The image above shows the text in standard characters accompanied by JPMorgan’s trademark application — “without claim to any particular font style, size, or color.”
IndexGPT will be used across various business units, including advertising, business consulting and different finance-focused software as a service.
JPMorgan’s trademark filing reflects the views of its CEO, Jamie Dimon, 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.
Related: 7 ChatGPT plugins to enhance productivity
While tech giants across all business verticals are fast-tracking their way into adopting generative AIs, Apple took a U-turn by restricting 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 specifically restricted the use of GitHub’s AI tool, Copilot, which is a Microsoft-owned application that automates writing software code.
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