OpenAI Launches ChatGPT for Financial Services, Accelerating Push Into Financial Software Market
TECHWORLD ·
✦ AI Summary
OpenAI launched ChatGPT for Financial Services for the financial services industry on the 10th.
The product is specialized for investment banking and equity research work, and supports company analysis, financial model building, pitchbook preparation, and client materials creation.
Morgan Stanley and Evercore participated as design partners, and the product also expands access to financial data and adds security and access-separation features.
OpenAI has begun a full-scale push into the financial software market. According to Reuters, OpenAI launched ChatGPT for Financial Services for the financial services industry on the 10th, expanding its scope beyond general-purpose chatbots into frontline financial work.
The ChatGPT OpenAI unveiled this time is a product specialized for investment banking and equity research work. Its main target users are investment bankers and equity research analysts.
The product helps users search for the information they need across multiple financial and corporate data sources, as well as conduct company analysis, build financial models, prepare pitchbooks based on company formats, and create materials for clients. It is also designed to support the flow from data search to analysis and document production by linking a single process from information retrieval to company analysis and results writing.
Morgan Stanley and investment bank Evercore participated in the product development. Morgan Stanley and Evercore served as design partners, allowing real financial industry workflows and actual financial industry document formats to be reflected in the design.
The new service uses the latest AI model, GPT-6 Astra. GPT-6 Astra was unveiled by OpenAI on the 3rd. The model has stronger capabilities for handling complex tasks, including browsing, computer use, software engineering, and professional work.
OpenAI also expanded the range of data available for financial work. The data sources include Dalupa, LSEG News, PitchBook, Crunchbase, and Quartr. Through these sources, users can search earnings calls, financial statements, and basic company information.
To improve search accuracy and source verification, OpenAI indexed the relevant data on its own infrastructure. As a result, financial professionals can handle information searches that previously required moving across multiple data services directly within ChatGPT.
The service can also connect to a company’s existing subscription-based financial data services. Examples of connected services include FactSet, S&P Global, Preqin, and Datasite. This creates a structure in which basic built-in data and separately subscribed company information can be used side by side.
The function was designed with financial industry regulatory and security requirements in mind. Accordingly, it separates data access permissions by user role, encrypts data, and supports export of workspace logs for compliance teams. The exported records can also be used in existing audit procedures.
OpenAI plans to expand the range of financial data available for ChatGPT in the future and improve model performance for analysts’ data-search and interpretation tasks. At this stage, the application area is investment banking and equity research, and the company plans to expand it across financial services more broadly.
Source: TECHWORLD · Kim Seung-gi
Original: https://www.epnc.co.kr/news/articleView.html?idxno=406829
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Source: TECHWORLD
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