March 30, 2023

JPMorgan Curbs Employee’s Use Of AI-Powered ChatGPT

Artificial intelligence creating numerous questions for employers about use cases and how to integrate the tool into the workplace

Since ChatGPT became available for public use late last year, it’s created numerous questions for employers about use cases and how to integrate the tool into the workplace while not breaching compliance. 

ChatGPT is an artificial intelligence language platform where workers can write emails, produce code or even write reports in minutes, if not seconds. But the use in the workplace could be coming to a close for some employers. 

JPMorgan Chase & Co. is one of the first and highest-profile companies to ban the use of ChatGPT in the workplace, according to Bloomberg, citing a person with direct knowledge. 

The person said the reason for the move stemmed from the use of using third-party software and wasn’t tied to any specific incident.

We wonder just how many JPMorgan employees used the artificial intelligence language platform to create stock portfolios, write market reports, and construct emails for clients. 

Here’s ChatGPT’s response when asked to write a stock market outlook for 2023: 

“In the short-term, the market can be affected by many unpredictable events such as natural disasters, geopolitical tensions and so on. But in the long-term, it tends to be driven by the underlying health of the economy.” 

But the technology isn’t perfect. And some tests found ChatGPT’s responses were factually incorrect or had grammatical errors, to name a few — all of which could’ve been problematic for JPMorgan employees. 

Although ChatGPT can introduce workplace efficiencies, third-party software has many legal risks. JPMorgan might spark a trend among other companies to restrict chatbots in the office.

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