OpenAI Unveils ChatGPT for Financial Services, Targeting Wall Street's Junior Banker Tasks

OpenAI has introduced a version of ChatGPT built for financial services, aiming at some of Wall Street's most labor-intensive work: researching companies, analyzing financial data and producing the presentations investment bankers rely on.

The product, called ChatGPT for Financial Services, is a tailored version of the company's enterprise offering. It was developed with design partners Morgan Stanley and Evercore, according to OpenAI product vice president Nick Turley.

It uses OpenAI's latest model and pulls native data from LSEG, Daloopa and PitchBook, giving the system access to financial statements, earnings transcripts and users' existing data subscriptions. Finance-specific features include citations that trace data back to source filings, auditable charts and administrative controls for sensitive deal materials.

In a live demonstration, Turley showed the platform analyzing a potential M&A target, pulling financial figures from industry-standard sources and creating a formatted PowerPoint deck based on a bank's style guide.

Turley said there was "a ton of demand" for the version, initially geared toward investment banking and equity research, but declined to name banks that have signed on. Asked whether it would reduce the need for junior bankers, he framed the release as an efficiency boost.

The rollout raises questions for an industry long built on a rigorous apprenticeship model, as generative AI takes on multistep tasks like research and pitchbook formatting.