JPMorgan’s ChatGPT competitor, IndexGPT, will be utilized in different areas such as advertising, business consulting, and various finance-related software services.
JPMorgan Chase, a large financial services company, applied for a trademark called IndexGPT, signaling its participation in the race to create a generative AI tool for business use.
JPMorgan Chase submitted a trademark application for “IndexGPT” to the United States Patent and Trademark Office (USPTO) on May 11. They plan to use this name for commercial purposes.
The mark consists of standard characters, without claim to any particular font style, size, or color. Source: USPTO
The image above displays the text in regular characters that accompanied JPMorgan’s trademark application. They explicitly mentioned that they do not claim any specific font style, size, or color.
IndexGPT will be utilized in different areas of JPMorgan Chase’s business, such as advertising, business consulting, and various software services focused on finance, including software as a service (SAAS) among others.
JPMorgan’s trademark application for IndexGPT. Source: USPTO
JPMorgan’s trademark filing aligns with the views of its CEO, Jamie Dimon, on artificial intelligence (AI). In April, Dimon mentioned that the company currently has more than 300 AI applications being used for various purposes such as risk assessment, prospecting, marketing, enhancing customer experience, and preventing fraud.
“AI and the data it relies on will play a crucial role in our company’s future success. Implementing new technologies is extremely important and cannot be emphasized enough”.
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JPMorgan intends to provide its employees with tools like ChatGPT and other large language models to enhance their capabilities.
While many big technology companies are quickly adopting generative AI technologies, Apple has taken a different approach by placing restrictions on the use of ChatGPT and similar tools. An internal document from Apple expressed concerns about the potential risks of sensitive data compromise.
In addition to concerns about data exposure, Apple specifically limited the use of Copilot, an AI tool from GitHub owned by Microsoft, which automates the process of writing software code.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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