How will AI Impact High Finance?
With the release of GPT-4, 10% of the labor force is predicted to be eliminated due to AI. How will high finance be impacted by AI?
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Honestly, you could make a solid argument that analysts and associates can be replaced by AI, but if that happens who is going to be the future MD’s? I believe AI will augment how we work. Some jobs will be replaced but for the most part AI will be the new search engines that we use. Instead of googling shit we’ll ask an AI
If you think generative AI is only a search engine you have no idea what you are talking about.
At the current pace AI is developing, it is just a matter of few years (2-3 years if not less) that AI can execute with all kind of guarantee not only simple grunt tasks such as building a model from scratch or assembling a perfect-looking deck, but also will take care of more complex and "higher level" functions such as coming up with investing ideas or strategies to help clients.
Imagine a few AI programs competing with each other for top bucket and throwing monkey shit at comments that rank their platforms lower than another. Wait…
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