The banking industry’s reaction to recent advances in artificial intelligence (AI) platforms such as OpenAI’s ChatGPT and freshly released GPT-4 has been a mix of excitement and caution.
Morgan Stanley is among the banner clients of GPT-4, using it to enhance its internal knowledge base and handle federated search capabilities for its wealth management personnel. JPMorgan Chase, in contrast, has tried to restrict employee use of ChatGPT. We believe adoption is inevitable, especially after Microsoft integrates GPT’s capabilities into its Office products.
