Finserv giant JPMorgan Chase has filed a trademark application for IndexGPT, marking its entry into the race to develop 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 for commercial use.
The image above shows the text in standard characters that accompanied JPMorgan’s trademark application — “no claim to any particular font style, size, or color.”
IndexGPT is available to various business units, including advertising, business consulting and various finance-focused software as a service (SAAS) services and more.
JPMorgan’s trademark filing shows CEO Jamie Dimon’s thoughts on artificial intelligence (AI). Last April, Dimon revealed that the company has more than 300 AI use cases in production for risk, sourcing, marketing, customer experience and fraud prevention. He stated:
“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 cannot be overstated.”
JPMorgan plans to empower its employees with ChatGPT and other great language modeling tools.
Related: 7 ChatGPT plugins to improve productivity
While technology giants in all business verticals are fast-tracking their path to adopting generative AIs, Apple has taken a U-turn by restricting the use of ChatGPT and similar tools.
An internal document reveals Apple’s concerns about the possible compromise of sensitive data.
While highlighting fears of disclosure of confidential data, Apple also specifically restricted the use of GitHub’s AI tool Copilot, a Microsoft-owned application that automates the writing of software code.
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