BofA, JPMorgan, Goldman Are Right to Clamp Down on Office ChatGPT

Whatever the merits for their business, it’s probably the compliance cops’ worries carrying the day.

Not ready for banks?

Source: NurPhoto

ChatGPT. OK, it’s cool, but what is it for? This is the question I’d be asking if I were a banking executive. Oh, and of course: What are the risks of using it?

There is huge excitement about this bright new toy, but what it mainly does is produce content on demand that is distilled from information picked up off the internet. To my mind, what makes it smart is its ability to produce language that sounds like a convincing voice, not the substance of what it is telling you.