Are researchers going to lose their jobs? OpenAI launches ChatGPT for finance, allowing you to complete research, modeling, and presentations all in one place.

OpenAI is releasing "ChatGPT Financial Services Edition," a new tool tailored for investment bankers and stock analysts. This is the company's latest attempt to compete with rival Anthropic PBC in the enterprise market and expand the application of AI in enterprises.

On Thursday, OpenAI announced that the product will integrate data from sources such as Daloopa, PitchBook, and LSEG News, combined with its latest GPT-6 Astra model. As the company releases updated AI models in the future, the service will also integrate these new models.

Nick Turley, VP of Product at OpenAI, said, "We are actually teaching ChatGPT to conduct research like an analyst and to justify its conclusions like an analyst."

When asked if the product would reduce hiring for junior bankers, Turley positioned it as a productivity-enhancing tool, not a cause of layoffs. He said:

"I think that just as Microsoft Excel revolutionized the industry, enabling them to perform analyses faster and better, you will see this type of technology play the same role."

Targeting large financial institutions, corporate expansion accelerates.

OpenAI is primarily targeting large financial institutions with this tool. This product aligns with the company's strategy to continuously increase its enterprise customer base, as enterprise clients typically have significantly higher profit margins than the consumer users who have long constituted the majority of its customer base.

OpenAI CFO Sarah Friar said at a Goldman Sachs conference in San Francisco this week that the company’s enterprise and consumer businesses had reached a near-flat state earlier this year.

The ChatGPT Financial Services Edition dataset will include earnings call transcripts, financial statements, and company fundamentals. The tool features sophisticated citation capabilities, allowing teams to trace data and conclusions back to their original sources and verify them.

According to OpenAI, this feature is designed to help teams conduct research more easily and efficiently, build financial models, and produce client materials in a way that meets the unique format requirements of each institution.

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