Incoming analyst - want to learn about how banks are using different AI tools to improve efficiencies and automate tasks. Specifically: Which tools/agents are the most used and for what tasks? (Eg. using Claude to dig through 10Qs, ChatGPT for first draft on decks, etc)How do I best utilize AI so that I can be a better performing analyst AND pull less late nights?What are the most important skillsets for an analyst to learn that won't be automated? Would help a lot thanks

been following this space pretty closely at my firm on the tools question: Claude is probably the most useful for anything document-heavy. feeding it a 300-page CIM or a 10-Q and asking it to pull specific line items, flag risks, or summarize the MD&A saves a ton of time. use reasoning. the data sources plugged in are not great but just feeding documents is good. ChatGPT is fine for first drafts of routine stuff but it's pretty generic out of the box. for financial research specifically, we used Rogo back around september.

AI Tools Comparison (Rogo, Claude, ChatGPT, etc)

Incoming analyst - want to learn about how banks are using different AI tools to improve efficiencies and automate tasks. Specifically:

Which tools/agents are the most used and for what tasks? (Eg. using Claude to dig through 10Qs, ChatGPT for first draft on decks, etc)
How do I best utilize AI so that I can be a better performing analyst AND pull less late nights?
What are the most important skillsets for an analyst to learn that won't be automated?

Would help a lot thanks

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Based on the most helpful WSO content, here's what you need to know about AI tools and their impact on investment banking tasks:

1. AI Tools and Their Usage in Banking

Claude, ChatGPT, and Similar Tools: These AI tools are increasingly being used for tasks like:
- Document Analysis: Tools like Claude or ChatGPT can quickly sift through lengthy documents such as 10-Qs or 10-Ks, summarizing key points or extracting relevant data.
- Drafting: ChatGPT is often used for creating first drafts of pitch decks, emails, or other written materials, saving analysts significant time.
- Data Processing: AI tools can process large datasets, generate insights, and even automate repetitive tasks like formatting Excel sheets or creating charts.
Specialized AI Tools: Banks are also leveraging proprietary AI systems or partnerships (e.g., Goldman Sachs collaborating with Google) to automate IPO steps, financial modeling, and valuation processes.

2. How to Best Utilize AI as an Analyst

Leverage AI for Repetitive Tasks: Use AI to handle time-consuming tasks like data entry, formatting, or initial drafts. This allows you to focus on higher-value activities like analysis and strategy.
Document Summarization: Use tools like Claude to quickly digest financial reports or industry research, enabling you to provide insights faster.
Excel Automation: Learn how to integrate AI tools with Excel to automate calculations, create macros, or even generate financial models.
Stay Hands-On: While AI can assist, always review and refine outputs to ensure accuracy and alignment with client needs.

3. Skillsets That Won’t Be Automated

Relationship Building: The ability to build trust and maintain client relationships is irreplaceable. Clients value the human touch, especially in high-stakes deals.
Strategic Thinking: AI can process data, but it cannot replicate the nuanced decision-making required for deal strategy, negotiation, or understanding client-specific needs.
Qualitative Analysis: Understanding the "why" behind numbers, such as management strategy, market dynamics, or competitive positioning, remains a critical human skill.
Communication Skills: Presenting ideas clearly, whether in writing or verbally, is a skill that AI cannot fully replicate.

4. Key Takeaways for Reducing Late Nights

Master AI Tools: Familiarize yourself with tools like ChatGPT or Claude to streamline your workflow.
Focus on Efficiency: Use AI to automate repetitive tasks, but ensure you’re adding value through analysis and insights.
Learn Advanced Excel: Excel remains a cornerstone of IB work. Combine it with AI to enhance productivity.
Prioritize Tasks: Use AI to help prioritize and manage your workload effectively.

By combining AI tools with strong interpersonal and analytical skills, you can position yourself as a high-performing analyst while minimizing burnout.

Sources: Q&A: AI will automate many roles in the IB/PE world. A live Q&A with Arctic, who are recruiting finance professionals to help manage that change, Google partners with Goldman Sachs in automating Investment Banking, Goldman has already mapped 146 “begging to be automated" Analyst IPO Steps, AI in fundamental investing, Tech, which is becoming increasingly sophisticated, will replace investment bankers

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