ChatGPT performed 41% on benchmark compared to investment bankers

I still believe manual labor would be better than using an AI model or any LLM model. I say this not because sure jobs might be more competitive than they already are for banking or because there will be less openings for banking but because these models can’t pick up the phone and talk to clients and walk them through what’s going on. Sure, there’s probably a MD who can do that but they probably have so much other things on hand that they wouldn’t have time to run the ops for this on their own. On top of that, banking requires a lot of personality and human like behavior imo… and an AI or generative model wouldn’t be able to act like so. Apart from that, I feel like manual labor is still more effective in terms of catching small or minor mistakes and gpt can be used as a verifier to catch anything small as well but not to build out a full blown out comprehensive model that can be inaccurate. It is only trained on past data, not current data, so cannot create projected valuations based on current market expectations unless the data is being constantly fed.