Home CryptocurrencyAltcoin JPMorgan Chase Enters Generative AI Race With IndexGPT Trademark

JPMorgan Chase Enters Generative AI Race With IndexGPT Trademark

by SuperiorInvest

Finserv giant JPMorgan Chase has filed a trademark application for IndexGPT, marking its entry into the race to create 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 “IndexGPT” marks to be used in commerce, according to JPMorgan.

The mark consists of standard characters, with no claim to any specific font style, size or color. Source: USPTO

The image above shows the text in standard characters that accompanied JPMorgan’s trademark application — “without claim to any particular font style, size, or color.”

IndexGPT will be used across a variety of business units, including advertising, business consulting and various Finance as a Service (SAAS) services.

JPMorgan’s trademark application for IndexGPT. Source: USPTO

JPMorgan’s trademark application reflects the thoughts of its CEO Jamie Dimon on artificial intelligence (AI). In April, Dimon revealed that the company has more than 300 AI use cases in manufacturing for risk, prospecting, marketing, customer experience and fraud prevention. He established:

“AI and the raw material that feeds it, data, will be critical to the future success of our company – the importance of implementing new technologies simply cannot be overstated.”

JPMorgan plans to empower its employees with ChatGPT and other major language model tools.

Related: 7 ChatGPT plugins to increase productivity

While tech giants across all business verticals are fast-tracking their way to implementing generative AI, Apple has made a U-turn and limited the use of ChatGPT and similar tools.

An internal document revealed Apple’s concerns possible compromise of sensitive data.

Apple has highlighted concerns about exposing confidential data, but has also specifically restricted the use of GitHub’s AI Copilot, a Microsoft-owned application that automates the writing of software code.

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