JPMorgan Employees Are Prohibited From Using ChatGPT

Several organizations, including Verizon, have also restricted access to the popular AI chatbot that is being used by millions

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It has been reported that JPMorgan Chase & Co. has restricted its employees from using ChatGPT, according to a source familiar with the situation, which was seen as a 0.41 percent decline for the company.

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An employee of the bank confirmed that no specific incident led to the restriction of the usage of the popular artificial-intelligence chatbot that the bank uses. According to the report, no statistics could be gathered regarding how many employees and for which functions were using the chatbot.

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A few days after its launch, ChatGPT crossed a million users, a sign that it has become increasingly popular since it was released by the startup OpenAI in November. A chatbot has been used by some people at work and school in order to automate a variety of tasks, raising concerns that some white-collar jobs could be replaced by artificial intelligence.

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 Despite this, ChatGPT doesn't always give the right answers to prompts because it sometimes responds with incorrect information.

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We didn't hear back from OpenAI Wednesday.

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ChatGPT was also blocked by other organizations in addition to JPMorgan. As of last week, Verizon VZ 0.30%increase; green up pointing triangle Communications Inc. stopped supporting the chatbot on its corporate systems. The company cited the possibility of losing ownership of customer information or source code that its employees entered into ChatGPT. The chatbot was banned from school internet networks and devices in January by New York City public schools.

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Following the launch of ChatGPT, other companies have started developing similar products. In an effort to keep up with OpenAI, Google has introduced Bard, a conversational AI service.

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With ChatGPT's technology as a foundation, Microsoft Corp. debuted an upgraded Bing search engine. Microsoft has invested billions of dollars in OpenAI. There have been complaints that the search engine operates as a chatbot and answers questions in an erratic way.

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An OpenAI spokesperson announced earlier this month that a $20 a month subscription fee would be charged for the paid version of ChatGPT.

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ChatGPT was restricted for employees of JPMorgan, according to earlier reports in The Telegraph.

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