Bankers and other staff at JP Morgan are reportedly being restricted from using ChatGPT, the free-to-access AI software that’s taken the world by storm since its emergence in early 2023.
The ban was not a response to any particular incident involving the use of AI, according to a report by Bloomberg, citing a person familiar with the matter, rather it is said to be the result of normal controls over the employee use of third-party software.
The open nature of a user’s engagement with ChatGPT, which was conceived as a chat-based assistance, has led to countless novel approaches that leverage the technology – including as a short-cut for computer programming, essay and blog writing, in recruiting, legal cases, and, frankly anything else a human can think up a written command for.
In the investment world, it’s a deal for the company behind ChatGPT that’s arguably caught most attention.
Microsoft in January invested some US$10 billion in openAI, the company that created ChatGPT, and has quickly moved to embed the AI technology into its software suite – most significantly into Bing search as it seeks to put up stiffer competition versus Google (which is launching its own AI assistant, called Bard).