JPMorgan is developing a ChatGPT-like A.I. service that gives investment advice

The applications are typically vaguely written to give companies the broadest possible protections, Gerben said.of A.I. popularized by ChatGPT; the bank plans to use A.I. powered by "Generative Pre-trained Transformer models."

"It's an A.I. program to select financial securities," Gerben said. "This sounds to me like they're trying to put my financial advisor out of business."the arrival of technology good enough to displace their role in markets. Those fears have largely yet to materialize. Wealth management firms, including Morgan Stanley and Bank of America's Merrill, offer simple roboadvisor services, but that hasn't stopped their human advisors from gathering billions of dollars more in assets.

Earlier this week, executives at JPMorgan touted their progress in applying A.I. across operations at the company's annual investorThe bank, which employs 1,500 data scientists and machine-learning engineers, is testing "a number of use cases" for GPT technology, said global tech chief"We couldn't discuss A.I. without mentioning GPT and large language models," Beer said.

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