JPMorgan restricts employees’ use of ChatGPT

According to a person familiar with the matter, JPMorgan Chase & Co. is restricting employees from using ChatGPT.

The bank did not restrict the use of the popular artificial intelligence chatbot because of any specific incident, the person said. It could not be determined how many employees used the chatbot or for which functions they used it.

ChatGPT has grown in popularity since it was released by startup OpenAI in November, reaching one million users just days after its launch. People have used the chatbot to automate tasks at work and school, raising questions about how AI could replace some white-collar workers. However, ChatGPT is not always reliable as it sometimes responds with misinformation or incorrect answers to prompts.

The ChatGPT logo can be seen in this image taken on February 3, 2023. REUTERS/Dado Ruvic/Illustration (Reuters photos)

OpenAI did not respond to a request for comment on Wednesday.

MICROSOFT AI CHATBOT Threatens to reveal PERSONAL DATA and ruin a user’s reputation

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JPM JPMORGAN CHASE & Co. 138.56 -1.07 -0.77%
vz VERIZON COMMUNICATIONS INC. 39.28 +0.08 +0.20%

In addition to JPMorgan, other organizations have also blocked access to ChatGPT. Last week, Verizon Communications Inc. suspended the chatbot from its corporate systems, saying it could lose ownership of customer information or source code that its employees entered into ChatGPT. Public schools in New York City banned the chatbot from their Internet networks and school devices in January.

Employees of some companies have used ChatGPT to write emails and research topics. Some of the employees say the chatbot helps them work faster, while others try not to be left behind as technology advances.

JP Morgan

JPMorgan restricts employees from using ChatGPT. The front entrance of JPMorgan Chase’s headquarters in New York City is seen in this April 4, 2022 photo. (Photo by Erik McGregor/LightRocket via Getty Images/Getty Images)

After OpenAI’s release of ChatGPT, some tech companies have attempted to launch similar products. Earlier this month, Google rolled out the Conversational AI Service Bard for testers as the company tries to keep up with OpenAI.


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MSFT microsoft corp 251.51 -1.16 -0.46%

Microsoft Corp., which has invested billions of dollars in OpenAI, introduced an updated Bing search engine using ChatGPT technology. Users reported that the search engine, which also acts as a chatbot, responded to questions with sometimes disturbing answers.


Verizon banned its employees from ChatGPT last week. In this image illustration, the Verizon Wireless logo is shown on a smartphone and in the background. (Photo illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images) (Photo illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images/Getty Images)

OpenAI announced earlier this month that it is launching a paid version of ChatGPT that will be available to subscribers for $20 per month.

The Telegraph previously reported that JPMorgan is blocking employees from using ChatGPT.


– Will Feuer contributed to this article.

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