OpenAI’s new project could make junior bankers redundant

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OpenAI has quietly hired over 100 former bankers and consultants from Morgan Stanley, JPMorgan Chase, and other top firms as part of a new initiative to train its AI for advanced financial modelling and consulting automation, WSJ reported on Tuesday.

The project, codenamed “Mercury,” is designed to replicate and ultimately automate much of the grunt work typically done by junior investment banking analysts, including building IPO models, restructuring analyses, and leveraged buyout projections.

According to multiple reports, OpenAI is paying these…



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OpenAI’s new project could make junior bankers redundant


OpenAI has quietly hired over 100 former bankers and consultants from Morgan Stanley, JPMorgan Chase, and other top firms as part of a new initiative to train its AI for advanced financial modelling and consulting automation, WSJ reported on Tuesday.

The project, codenamed “Mercury,” is designed to replicate and ultimately automate much of the grunt work typically done by junior investment banking analysts, including building IPO models, restructuring analyses, and leveraged buyout projections.

According to multiple reports, OpenAI is paying these…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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