IndexGPT, JP Morgan’s new artificial intelligence financial service

The renowned financial institution wants to launch its first artificial intelligence product for retail customers

JP Morgan is developing an artificial intelligence service, called IndexGPT, which is characterized by offering investment advice to users. This service will take advantage of cloud computing software that uses AI to analyze and select stocks based on the needs of each client.

JP Morgan’s product may be the first GPT-like financial product designed for use by retail clients. “This is a real indication that they may have a potential product to launch in the near future,” said trademark attorney Josh Gerben, adding that “companies like JPMorgan don’t register trademarks just for fun.”

Josh Gerben, commented that the product presentation includes an “affidavit from an officer of the company” confirming that the bank intends to use the mark. Brands typically take about a year to be approved, after which the bank will have three years to launch IndexGPT.

In the framework of the first tests that are being carried out on the product, the bot referred to cryptocurrencies and memecoins. On the one hand, he stated that “the price of Bitcoin has the potential to rise after the Bitcoin halving in 2024, due to a “reduction in [BTC] supply, coupled with continued demand or increased interest from the market.” market”.

Asked about the future of memecoins like Dogecoin, Shiba Inu or Pepe, the bot said that its success is driven by “brand recognition, celebrity endorsements and online trends”.

Published in Forbes Central America.