Big banks crack down on popular ChatGPT
AI use restricted
Citigroup and Goldman Sachs are restricting use of ChatGPT by employees, according to reports.
Carla Mozée - Citigroup and Goldman Sachs are restricting employees' usage of ChatGPT, the popular tech tool that's fuelled investor interest in artificial intelligence. Citigroup has blocked access to the chatbot as part of automatic restrictions imposed around third-party software, Bloomberg reported Friday, citing a person familiar with the matter. Traders at Goldman Sachs were similarly restricted, the report said, citing another unnamed source.
Financial News based in London first reported on the ChatGPT restrictions at the Wall Street banks.
JPMorgan has also limited use of ChatGPT among traders on concerns about regulatory action stemming from sensitive financial information being shared with the chatbot, The Telegraph reported this week.
Internet sensation
Sources told Bloomberg that ChatGPT's restriction at JPMorgan was part of standard procedures involving third-party software.
Bloomberg reported representatives for Citi and Goldman Sachs declined to comment, and a spokesperson for OpenAI, the research firm that developed ChatGPT, didn't immediately respond to a request for comment.
ChatGPT has been become an internet sensation as it displays a human-like ability to perform a variety of tasks ranging writing stock stories to layoff emails. ChatGPT is also at the centre of a "Game of Thrones" battle around AI between Microsoft and Google's parent Alphabet and Apple, according to Wedbush Securities. – Fin24/Busines Insider