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OpenAI Launches ChatGPT for Financial Services to Automate Investment Banking and Equity Research Tasks

OpenAI has released ChatGPT for Financial Services, a specialized version of its enterprise product designed to automate labor-intensive tasks for investment banking and equity research. The new tool utilizes the GPT-6 Astra model to research companies, analyze financial data, and generate presentations like pitchbooks and valuation models. Developed in collaboration with Morgan Stanley and Evercore, the product integrates premium financial data from providers such as Daloopa, PitchBook, and LSEG News directly into the OpenAI infrastructure. Nick Turley, OpenAI's vice president of product, stated that the platform teaches ChatGPT to research and back up conclusions like a human analyst. The tool allows users to move from research to client-ready work products, such as formatted PowerPoint decks, while maintaining an audit trail to source filings. The administration announced that the product includes administrative controls for sensitive deal materials and native data access to over 50 integrations, including S&P Capital IQ and FactSet. While the product aims to boost productivity, Nick Turley noted that it serves as an efficiency tool to maximize output per employee rather than a completely replacing junior bankers. The platform is currently available to eligible financial institutions.

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