JPMorgan’s IndexGPT aims to reshape investment advice through AI.
AI-powered advisory could render traditional financial advisory obsolete.
In a significant move forward for artificial intelligence (AI) in financial services, JPMorgan has announced the development of a new AI service reminiscent of OpenAI‘s ChatGPT. According to reports, the novel service, dubbed “IndexGPT,” will provide investment advice and select securities, potentially displacing traditional financial advisors.
JPMorgan is developing a ChatGPT-like A.I. service.
Called “IndexGPT”.
It selects securities and gives investment advice.
Say goodbye to financial advisors. pic.twitter.com/t920Dt8Zdu
— Genevieve Roch-Decter, CFA (@GRDecter) May 26, 2023
The intriguing revelation from Genevieve Roch-Decter, CFA, highlights a seismic shift in the financial services sector. However, if this AI-powered service delivers as promised, it holds the potential to reshape the way investors engage with financial market
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