JP Morgan traders restricted from using ChatGPT over privacy issues

ANNA MOLONEY

CITY FIRMS including JP Morgan and KPMG have restricted their employees from using ChatGPT, according to reports, as privacy concerns grow around the use of AI.

Privacy concerns over the sharing of sensitive financial information has prompted JP Morgan to curb the use of the AI chatbot by traders, according to The Telegraph.

Meanwhile other firms such as

Accenture have told their staff to be careful with how they use the technology, while UK Finance said it was discussing the topic with its members, The Times reported.

A recent JP Morgan survey showed AI is set to transform trading, with over half of traders predicting AI will be the most influential technology over the next three years. However, its potential has been met with equal concern, with the tech expected to come under new regulation within the Online Safety Bill.

The FTSE 250 firm came out to confirm speculation of a takeover, stating that it has received “three

Wood Group said it had “considered” each offer and engaged with Apollo “on a limited basis”.

But the energy services firm said the board “unanimously rejected” each of the offers after it concluded they “undervalued” the company. Apollo was contacted for comment. News of the offers marks the second tilt at a London-listed firm by a US private equity house this week, after events business Hyve revealed it had received an offer from Rhode Island-based Providence.