IndexGPT patent application grabs attention
Amid continuing discussion in the Australian financial services industry about artificial intelligence, the Stockbrokers and Investment Advisers Association annual conference has been pointed towards J.P. Morgan having filed a patent for a product IndexGPT.
The patent filing was referenced by Colonial First State’s Neville Azzopardi who noted reports that JP Morgan had filed the patent application this month.
The patent application said IndexGPT would tap “cloud computing software using artificial intelligence” for “analyzing and selecting securities tailored to customer needs”.
Reports out of the US said that JPMorgan may be the first financial incumbent aiming to release a GPT-like product directly to its customers.
The reports quoted Washington trademark lawyer, Josh Gerben as suggesting the filing may indicate the company may be ready to launch in the near future.
Azzopardi pointed to the US development as being indicative of what was likely to be the rapid spread of AI-based initiatives in financial services, including into Australia.
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