Wall Street Banks Are Cracking Down on AI-Powered ChatGPT (3)

Wall Street is clamping down on ChatGPT as a slew of global investment banks impose restrictions on the fast-growing technology that generates text in response to a short prompt.

Bank of America Corp., Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc. and Wells Fargo & Co. are among lenders that have recently banned usage of the new tool, with Bank of America telling employees that ChatGPT and openAI are prohibited from business use, according to people with knowledge of the matter.

In a regular, routine reminder of unauthorized apps including WhatsApp, BofA added a reference to ...