A new project has come from the US banking giant JP Morgan, which offers crypto money services to users.
As Bloomberg reports, JPMorgan Chase has unveiled its artificial intelligence (AI) tool that aims to analyze the Fed's conversations and uncover potential trade signals.
JP Morgan's AI tool will show bank analysts ways to detect the Fed's policy changes while allowing them to alert the bank to trading signals.
This tool from the bank will use a ChatGPT-based model to analyze statements from the Fed.
Although JPMorgan uses artificial intelligence applications for its own benefit, it does not take kindly to the use of artificial intelligence applications by its employees.
Because, in various reports prepared by the bank, it was stated that in February, its staff limited the use of ChatGPT.
The report also stated that JP Morgan plans to expand its artificial intelligence tool to include more than 30 central banks.
With this tool, JP Morgan can analyze the Fed's statements dating back 25 years. Accordingly, the FED continues to be predominantly hawkish, although it has been in a volatile mood lately.
*Not investment advice.