JPMorgan Unveils IndexGPT in Next Wall Street Bid to Tap AI Boom
- Bank is creating thematic investment baskets using GPT-4 model
- Trademark for name was filed last year, stirring speculation
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A year after a wave of speculation broke out over its application to trademark the word “IndexGPT” in connection to an unspecified artificial intelligence-powered tool, JPMorgan Chase & Co. is finally unveiling the product that will bear the name.
IndexGPT is a new range of thematic investment baskets created with the help of OpenAI’s GPT-4 model. The tool generates a list of keywords associated with a theme, which are then fed into a separate natural language processing model that scans news articles to identify companies involved in the space.