JPMorgan Chase & Co. recently announced the launch of IndexGPT, marking a significant step in the intersection of artificial intelligence (AI) and finance, according to a report from Bloomberg.
IndexGPT introduces a novel approach to thematic investing, leveraging OpenAI’s GPT-4 model to construct thematic investment baskets. Unlike traditional indexes that rely on industry sectors or company fundamentals, IndexGPT identifies investments based on emerging trends, powered by AI-generated keywords extracted from news articles.
The Wall Street enthusiasm for AI-driven innovations continues to grow, with IndexGPT poised to capitalize on the investor frenzy.
Rui Fernandes, JPMorgan’s head of markets trading structuring, emphasizes that IndexGPT represents the bank’s commitment to integrating AI across its offerings gradually and thoughtfully.
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