- OpenAI plans to hire $200,000 investment banking expert as it continues to target finance
- The company wants to improve financial accuracy, consistency and overall quality
- ChatGPT already has its own personal finance tool
OpenAI announces a new role as “Subject Matter Expert, Investment Banking” on its team, in the latest hint that the ChatGPT creator wants to expand its reach into the financial sector.
This latter position strongly implies that the company wants to multiply more sophisticated Wall Street-type tasks, rather than being a do-it-all chatbot, and that makes sense.
We’ve already seen OpenAI and competitors like Anthropic heavily target certain industries, with banking and law being two of the most obvious in recent months.
Could OpenAI extend its reach to finance?
OpenAI described investment banking as one of the most demanding forms of knowledge work, pressuring workers to “synthesize fragmented information, exercise judgment under pressure, and produce accurate and defensible models, analyses, and client documents.”
Given that the role has been published in a full blog post style advert rather than on a dedicated careers platform, it is clear that the role will be high level, reporting to senior management and will play a considerable role in shaping the direction of the business. The salary of $185,000 to $205,000, plus equity, is also indicative of the importance of the role.
The announcement emphasizes the importance of quality over quantity, emphasizing the need for AI to help produce financially correct, traceable and consistent work.
OpenAI also wants potential candidates to help identify higher-value AI opportunities in investment banking – another clear signal that the company is tackling this sector at scale.
Using its existing expertise, OpenAI has already targeted the industry consumer with a new personal finance tool within ChatGPT that connects to bank accounts to give users insight into their spending habits, investments and savings.
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