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In the same way you now use OpenAI’s ChatGPT for writing or coding, you can soon use JPM’s IndexGPT to help pick, analyze and recommend financial securities like stocks, bonds, commodities, digital assets, etc.

This could be a massive move that can disrupt the traditional financial advisory market currently worth around $90 billion.

While banks like Goldman Sachs and Morgan Stanley have already begun testing artificial intelligence for internal use, JPMorgan would be the first financial firm to launch a generative AI product directly to its customers.

But this should come as no surprise.

JPM has already built its own ChatGPT-based large language model (LLM) to analyze Federal Reserve statements and speeches in an effort to sniff out potential trading signals.

The banking giant is super serious about the future and Dimon is walking the walk – JPM now employs more than 2,000 data scientists and machine learning engineers to help build out its AI capabilities.