- 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 now has its own personal finance tool
OpenAI is announcing a new “Subject Matter Expert, Investment Banking” role within its team, serving as the latest indication that the ChatGPT maker wants to expand its reach into the financial sector.
This last position strongly implies that the company wants to ramp up more sophisticated Wall Street-type tasks, rather than being an all-purpose chatbot, and it makes sense.
We’ve already seen OpenAI and rivals like Anthropic target certain sectors heavily; banking and law are two of the most evident in recent months.
Could OpenAI be expanding its reach into finance?
OpenAI described investment banking as one of the most demanding forms of knowledge work, putting pressure on workers to “synthesize fragmented information, exercise judgment under pressure, and produce accurate and defensible models, analyses, and client materials.”
Given that the job was posted in a full blog post-style advertisement rather than on a dedicated career platform, it’s clear that the role will be high-level, reporting to senior leaders and playing a considerable role in the direction of the company. The salary of between $185,000 and $205,000, plus capital, is also indicative of the importance of the position.
The announcement highlights the importance of quality over quantity, emphasizing the need for AI to help produce work that is financially correct, traceable and consistent.
OpenAI also wants potential candidates to help identify the highest-value AI opportunities in investment banking, another clear sign that the company is going after the sector in a big way.
With its existing expertise, OpenAI has already targeted the end-consumer sector with a new personal finance tool within ChatGPT that connects to bank accounts to give users insights into their spending, investing and savings habits.
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