JPMorgan Chase has begun rolling out a generative artificial intelligence (AI) product, telling employees that its personalized ChatGPT from OpenAI can perform the functions of a research analyst.
According to a source on Friday, JPMorgan Chase (JPM.N) has started implementing a generative artificial intelligence (AI) product, informing staff members that its customized version of OpenAI’s ChatGPT can do the duties of a research analyst. The largest lender in the country, according to a report citing an internal memo, has provided staff members in its asset and wealth management division with access to a sizable language model known as LLM Suite, which aids with writing, idea production, and document summarization.
JPMorgan began rolling out LLM Suite to select areas of the bank earlier this year, and currently 50,000 employees have access to it. In September of last year, rival U.S. investment firm Morgan Stanley (MS.N.) launched a chatbot powered by GenAI and opened a new tab in partnership with OpenAI. This allowed financial advisors to quickly access all of Morgan Stanley’s intellectual capital.
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