Hey,
I am an AN 1 and a friend who works at a BB told me he uses AI note taking tools like otter or fireflies during calls which transcribes the zoom calls he has, and then summarize it into notes.
Is this tool getting common in the industry and is it ethical to have an AI note taker join the call? How come this isn't used by everyone? If i use it, will I get in trouble and maybe even fired? Thank you
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Saw this happen on a deal I was on over the summer. Another bank was involved and they used Fireflies. My MD immediately got pissed at the other bank's team and demanded they stop & delete all recordings. She absolutely hated the idea of meetings being recorded in really any way
Most banks explicitly prohibit these since the companies can access your data (Fireflies for example says on their website they collect and store all recordings... huge info security problem on confidential M&A work). Even the simple and common ChatGPT is usually banned at banks, again for data security issues. Samsung had an issue a bit ago where employees leaked confidential data just by using ChatGPT, don't be that employee.
I think these tools will be made available to corporates and become commonly used in IB once the data side of things is figured out - but wait for that to happen. Until then, definitely don't use any third-party tools that could potentially use or leak that data.
I use chatgpt sometimes just to answer some questions, the type of stuff you would use google for, you think I'm allowed to use chatgpt for that? I use it to learn basically or figure out titles for slides
I wouldn't use it on your work computer
Even if the information is stored locally and not in the cloud… could you still see issues with confidentiality?
What if the other team just doesn’t want it being recorded?
Not sure what you mean stored locally - you mean only accessible to your firm and not the company offering the product? That would be fine (I'm sure you talk deals on Outlook and Teams) but right now third parties having access to your data at all is a huge no-no.
Many teams just don't want any meetings recorded, even by a voice memo to help you later. This is for sure a common one
Big no on this.
How come?
Your bank will have a policy
Follow that policy
And you won’t get fired
Simple!
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