JPMorgan restricts staff use of ChatGPT

The move, first reported by The Telegraph, applies to staffers across the firm but was not prompted by a specific incident.

Rather, it is part of broader controls around the use of the third-party software in a heavily-regulated industry.

JPMorgan is one of several banks that has recently been hit with huge fines over employee use of WhatsApp t communicate with clients.

ChatGPT, which generates text in response to prompts, became a sensation when it was released into the wild by developer OpenAI late last year.

The technology is widely seen as having a huge number of applications across a swath of industries, including financial services.

However, with concerns over issues such as bias and accuracy, and a regulatory landscape still adapting to the technology, financial services firms are proceeding with caution.