A year ago, J.P. Morgan applied for the “IndexGPT” trademark, implying that it was a new artificial intelligence investment tool, which sparked a wave of speculation in the market. Now, Xiaomo has finally unveiled this product. It turns out that IndexGPT is a tool to create a series of new thematic investment baskets using OpenAI's GPT-4 artificial intelligence model. Specifically, it can generate a list of keywords related to a certain topic, then input them into a natural language processing model, scan news articles, and identify related companies in a certain field. Over the past year, excitement about artificial intelligence has boosted big tech companies and pushed US stocks to new highs. But compared to this kind of hype, IndexGPT is far from a revolution in the financial sector, where various technology-led companies and quantitative traders are trying to control the market with artificial intelligence. However, as the industry is highly regulated, a single mistake could cost millions of dollars, and finding fully validated use cases is a challenge.