Financial behemoth JPMorgan Chase & Co. (NYSE:JPM) is working on bringing an AI tool (such as ChatGPT) into the world of investment advisory, according to CNBC.
Further, the company has already taken steps to secure the IP for its offering called IndexGPT. The AI tool will pore through and select securities suited to a customer’s requirements.
Clearly, the AI race is not only starting up but companies are moving at breakneck speeds to capture first mover advantage. Next, the global financial giant will now have three years to bring the product into the market after securing approval.
Overall, the Street has a $161.53 consensus price target on JPM alongside a Strong Buy consensus rating.
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