Due to ChatGPT’s explosive growth, JPMorgan limits ChatGPT usage, and the company has temporarily tightened restrictions on its use by workers. According to a person familiar with the situation, the largest US bank has restricted its use among international workers.
Additionally, according to the same source, the decision was made to comply with restrictions on third-party software owing to compliance worries rather than because of a specific problem. The company refused to comment on the JPMorgan limits ChatGPT news.
Why JPMorgan limits ChatGPT usage?
The public first had access to ChatGPT in late November thanks to artificial intelligence research firm Open AI. Since then, the highly publicized program has been used to transform written prompts into compelling academic essays, imaginative scripts, travel plans, and computer code.
Adoption rates have soared. Two months after its debut, ChatGPT, according to UBS, had 100 million monthly active users. According to the analysts at the Swiss bank, it would make it the fastest-growing internet application in history.
ChatGPT’s viral success has sparked a fierce race among tech firms to launch AI products as quickly as possible. Google recently launched Bard, a rival to ChatGPT, and Microsoft (MSFT), an investor in Open AI, debuted Bing AI to a small group of beta testers.
But, the updates have increased people’s worries about the technology. Factual mistakes have been found in Google and Microsoft’s tool demonstrations. In the meantime, Microsoft is attempting to control its Bing chatbot after customers complained of unsettling answers, such as hostile remarks and sinister dreams.
Some companies have urged employees to use ChatGPT in their regular work. Some, though, worry about the dangers. The banking industry has an added incentive to exercise caution because it handles sensitive consumer information and is closely scrutinized by government regulators.
Recent developments about ChatGPT before JPMorgan limited its usage
As the popular AI is gaining attention every single day, ChatGPT remains on the agenda of many companies and countries, while worrying some of them because of its high potential and availability for exploitation. Here are some recent developments prior to JPMorgan limits ChatGPT to its employees.
New York City bans Chatgpt from public schools’ devices and networks
Because of worries that it could be used to cheat on homework, schools have been putting restrictions on ChatGPT. In January, the public schools in New York City outlawed the popular AI chat app. The Department of Education in New York City has placed a ban on ChatGPT, a hugely popular chatbot that some have worried could encourage more student cheating, from being used on school computers and networks.
The decision to prohibit ChatGPT, which can create conversational responses to text prompts, was made due to worries about its “negative impacts on student learning,” according to department spokesman Jenna Lyle.
Chinese apps remove ChatGPT
Even as major Chinese tech companies scramble to create their own version, several well-known Chinese apps have blocked access to ChatGPT, the artificial intelligence chatbot that has taken the globe by storm.
The Chinese social media platform WeChat has a number of apps that previously permitted access to ChatGPT, a chatbot created by the American research group OpenAI, without the need for a VPN or foreign phone number.
Microsoft rolls out new ChatGPT-powered Bing
The new Bing is a member of an emerging class of AI systems that have acquired human language and syntax after absorbing a vast amount of books and online writings. It is powered by some of the same technology underlying the well-known writing tool ChatGPT, produced by Microsoft partner OpenAI. On-demand, they can create music, recipes, and emails. They can also effectively summarize ideas using data gleaned from the internet. Nonetheless, they are also cumbersome and prone to error.
While JPMorgan is expected to comment on the issue in the coming days, many other companies are possibly thinking about similar restrictions as ChatGPT is currently on a very explosive rise in terms of popularity. If you haven’t tried the wonderful chatbot yet, take a look at what the fuss is about from this link. And if you wish to read more about the other developments about ChatGPT, you can refer to the articles below.
