What is everyones thoughts on AI and the effects it may have on investment banking? Saw this post in LinkedIn and wanted to see what people thought. https://www.linkedin.com/posts/matanfeldman_walls…
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Every time I pull info from bard ai it’s blatantly wrong
The idea that computers 'hallucinate' is the funniest shit ever.
Literally source - trust me bro
I actually think AI will be great for banking (and analysts). The role of an analyst will never go away because of deal specific nuance and execution but a lot more of the BS work can be outsourced.
over the 20 years I’ve been in banking, there are more and more analysts to do the same job. At the firm I started it, the number of MDs is similar , there are 2.5x as many analysts, that’s why analysts don’t get paid as well as they should,
my view is AI will mean
- a lot fewer analysts and associates
- higher quality, better compensated analysts and associates
- better work
out of curiosity, why are there so many more analysts to do the same work? Is it just because of improved working conditions?
I think there’s more BS work. Bankers are def less thoughtful about what they ask for and the tools exist to do that BS work. I also think that a lot of banks resemble big corporates and bankers don’t focus on costs as they did when firms were smaller.
of course when I was an analyst way back when I worked for the king of creating BS pitches,
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