I don’t have first hand knowledge of how J.P. Morgan’s PMs, Analysts, Traders and Investment Bankers may be using ChatGPT. However, there are a couple of inherent challenges as I see it:

1.) ChatGPT’s knowledge repository is limited to the data sets it has access to. For example, if a Fixed Income PM runs a query, ChatGPT better have access to all of the data sets the PM has access to in order to generate an informed response. Those data sets / information sources may include: Bloomberg, Factset, S&P Global, third party research and data, proprietary research and data and the like.

2.) ChatGPT’s NLP layer would need to be trained on certain data sets and industry vernacular in order to properly contextualize queries and respond in kind.

It would make sense for large FinTech vendors such as Bloomberg, Factset, FIS and S&P Global to train ChatGPT and/or Google’s Bard on certain proprietary data sets and to extend the ChatGPT / Google Bard capability to clients for an incremental fee. Think of ChatGPT as a premium product extension available to users via a premium subscription offering.

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