OpenAI Job Listing Suggests ChatGPT Could Someday Replace Junior Analysts at Goldman Sachs

Arthur T Knackerbracket writes:

What, did someone get some bad news during their IPO process or something?

Investment bankers might be next in line to be rendered obsolete by artificial intelligence if OpenAI's latest push into the financial space is any indication.

The House of Altman on Wednesday opened up a new positionfor an investment banking expert, whose responsibilities include making ChatGPT and its AI relations better at handling the complexities of major financial transactions like mergers, acquisitions, fundraising, and other high-value, high-stakes financial ventures.

The job notice mentions that investment banking is one of the most demanding knowledge work tasks around due to all the things bankers have to consider, and it seems to be hoping AI can serve as an assistant for some of Wall Street's heaviest hitters.

"We are looking for a Subject Matter Expert in Investment Banking to help define what excellent AI-assisted banking work looks like and turn that standard into better models and products," OpenAI said in the posting. "You will use that expertise to design realistic tasks and evaluations, create and assess high-quality reference work, diagnose model failures, and help our technical teams improve model behavior and product experiences."

OpenAI further describes the position as defining "the quality bar for AI-assisted investment banking," making it seem suspiciously like the ChatGPT maker isn't satisfied to keep its financial insights confined to the personal bank accounts of its individual users.

The company announced in May that it was adding connectors for personal financial accounts to be integrated into ChatGPT, giving AI direct access to bank records and other financial data. The feature was rolled out generally to ChatGPT Plus and Pro users at the end of June.

Now, it seems, OpenAI wants ChatGPT to help i-bankers, with the aforementioned "quality bar" touching things like research, analysis, valuation, modeling, diligence, transaction execution, and handling client materials. OpenAI apparently also wants its subject matter expert to help translate banking workflows into "representative evaluation tasks" that would allow AI to handle turning investment ideas into success, and generally "improve model performance on financial work."

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