Wall Street’s ChatGPT nightmare is over before it starts as banks crack down

Wall Street’s ChatGPT nightmare is over before it starts as banks crack down
It may be some time before AI takes over bond and commodities markets that were once too tough to automate. (Image: Getty)
Bloomberg
By Katherine DohertyIn a dark future for humans on Wall Street, banks fire traders en masse as artificial intelligence models like ChatGPT take over bond and commodities markets that were once too tough to automate.  But not yet. And maybe not ever. Wall Street banks are taking steps to limit or prohibit its use, including JPMorgan Chase & Co, Bank of America and Citigroup. And the traders and other professionals that are dabbling in the technology are quickly finding that, while it could make some of their most mundane tasks fast...

More Law & Regulation

Reinstatement – what are the chances?
Law & Regulation

Rebecca Rendle: Reinstatement – what are the chances?

Whether reinstatement is appropriate will involve closely examining the facts.

Rebecca Rendle 19 Jul 2024
Serato considering all options after ComCom blocked sale
Law & Regulation

Serato considering all options after ComCom blocked sale

ComCom blocked the US$65m sale of Serato to Japanese company.

John Anthony 19 Jul 2024
Update: ComCom declines clearance for Serato deal
Law & Regulation

Update: ComCom declines clearance for Serato deal

Watchdog says merger could have lessened competition. 

Rebecca Howard 18 Jul 2024
SkyCity agrees to five-day closure of casino after breaches
Law & Regulation

SkyCity agrees to five-day closure of casino after breaches

The 'mea culpa' shutdown will cost the company $5 million.

Staff reporters 18 Jul 2024