OpenAI targets work of Wall Street junior bankers with new ChatGPT for Financial Services
NEW: OpenAI launches ChatGPT for Financial Services, built with Morgan Stanley and Evercore, targeting the research, modeling and pitchbook work traditionally done by Wall Street junior bankers.
OpenAI just built a junior banker, and it doesn't sleep or eat.
ChatGPT for Financial Services launched today, running on their newest model, GPT-6 Astra, and built with Morgan Stanley and Evercore as design partners. It researches companies, pulls financials straight from LSEG and Pitchbook, and assembles the pitchbook, the exact grind that fresh college graduates on Wall Street have done for decades. In the live demo it analyzed an M and A target and produced a formatted PowerPoint in the bank's own house style. Product chief Nick Turley says they're teaching it to research like an analyst and defend its conclusions like one too.
The timing isn't subtle. Enterprise now makes OpenAI more money than its consumer business, and everyone expects a blockbuster IPO. Turley wouldn't name one bank that's actually signed up, but he says demand is huge and more sectors are coming.
The hundred hour week might finally be dying. The real question is whether the job dies with it.
This is Liu Yang, reporting for HIT.
Sources
This story was written by HIT from the reporting above. We publish our own copy, not theirs.
More from HIT
30-year fixed mortgage rate tops 7% for the first time in over a year
30-YEAR MORTGAGE RATE TOPS 7% AT 7.07%
Oil, gas and borrowing costs surge as fears over Middle East escalate
OIL HITS $105 AS UK YIELDS AT 2007 HIGHS
The likelihood of a Fed interest rate hike next week just got a lot higher
TRADERS PUT FED HIKE ODDS NEXT WEEK AT 70%
ECB raises interest rates to fight off inflation jump
ECB HIKES RATES AS INFLATION TOPS 3%
10-year Treasury yield tops 4.9%, highest since 2023, as oil surge raises inflation fears
10-YEAR YIELD TOPS 4.9%, HIGHEST SINCE 2023
Algeria cuts diplomatic ties with United Arab Emirates over 'provocative and hostile actions'
ALGERIA SEVERS DIPLOMATIC TIES WITH UAE
Yemen’s Houthis Seize Strategic Red Sea Port, Officials Say
HOUTHIS SEIZE RED SEA PORT OF MOKHA
Oil prices extend gains, Brent stays above $100 a barrel on Mideast worries
BRENT TOPS $102 AS IRAN CONFLICT ESCALATES