May 27, 2023

JPMorgan Chase Enters AI Race with IndexGPT Trademark Application

Financial services giant JPMorgan Chase has filed a trademark application for IndexGPT, marking its foray into the race to develop a generative AI tool for business purposes.
The application was filed with the United States Patent and Trademark Office (USPTO) on May 11 for the characters “IndexGPT” which JPMorgan plans to use in commerce.
The image above shows the text in standard characters along with JPMorgan’s trademark application — “without claim to any particular font style, size, or color.”
IndexGPT will be used across different business units, including advertising, business consulting and various finance-focused software as a service.
JPMorgan’s trademark filing is in line with its CEO Jamie Dimon’s views on artificial intelligence (AI). In April, Dimon disclosed that the company has more than 300 AI use cases in production for risk, prospecting, marketing, customer experience and fraud prevention. He said:
JPMorgan plans to equip its employees with ChatGPT and other large language model tools.

The race to adopt generative AIs is rapidly gaining momentum across all business verticals, with tech giants vying to get ahead of the competition. However, Apple has taken a different approach by restricting the use of ChatGPT and similar tools.
An internal document revealed Apple’s apprehensions about the potential compromise of sensitive data.
Highlighting the risks of data leakage, Apple specifically barred the use of GitHub’s AI tool, Copilot, which is a Microsoft-owned application that automates writing software code.

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