When will we be able to fully use ChatGPT in IB?
I’ve been using ChatGPT a ton in my day to day to learn new concepts, polish my resume, summarize info, etc. But it’s all on my phone and personal computer since ChatGPT is banned at the bank I work at. My question is when will we finally be able to use ChatGPT on our work computers? Would just be so nice to be able to feed it info to write credit memos and LP bullets lol
Can’t believe banks still haven’t figured out a way to get over the MNPI issues with Azure OpenAI and/or some way to just monitor questions to filter out or check to see if any MNPI is being fed to ChatGPT. Or is Microsoft Copilot just gonna solve everything?
If you’re in france i know how to bypass the IT security firewall
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I’m in the US and very not French. No matter how many times I unclick the French flag on the WSO app, it won’t go away lol pls fix WSO
Regardless, trying to bypass your IT’s firewall sounds like a surefire way of getting fired (no pun intended)
Honestly I don't see a scenario where Compliance gets comfortable with us humble bankers inputting anything remotely confidential or MNPI onto a platform like ChatGPT as it works today. A number of banks ban Google Translate for pity's sake.
What we need is a dedicated product from OpenAI (or a startup or competitor) targeted at the investment banking industry (and similarly sensitive industries), which is heavily encrypted and has all sorts of security around data protection. Sort of like what has been done for internal chat systems. But the market for the general public for ChatGPT-type systems is enormous, and a huge race with a lot of room for product improvement as it is.
At some point, when the regular public ChatGPT is refined, the banking community will be an interesting sub-market for AI firms, but until the I think we have to rely on our personal phones or far inferior products developed by entrepreneurs without anything like the financial resources of OpenAI and Alphabet and the rest of them. Too bad unfortunately
Okay, but what are your Cartesian vector coordinates in a three-dimensional X Y Z frame of mechanical motion?
Is your aim to stir up trouble in our scientific congregation?
Isn't your existence collinear with the tangent vector One?
This non-existence in the Galilean system over the interval x ∈[0;+∞] causes a certain incoherence among the natural numbers N
I'm therefore entitled to ask you for the property to which you're attached with a period T < 10s, so I'm asking you to be subtracted from your opposite in order to have a value x=0 in our eyes.
You've obviously lost your way here, so we're going to escort you back to your faculty of social sciences as soon as possible.
Serenity on your frame of reference notwithstanding
wow, do all interns/incoming analysts sound so nerdish? fuck me, hell of a boring class
Would we still have to worry about all these compliance issues with Microsoft Copilot though? Since if you use Outlook / Teams to discuss MNPI then I imagine banks would be comfortable with Copilot too
Good question and starting to get beyond the boundaries of my own expertise. A lot of banks had trouble with Teams implementation and still don't enable all of its features. With Copilot, maybe there's a way that Compliance gets comfortable, and actually I think it's more likely than not, especially if it proves to be genuinely a differentiator; if it makes MS's juniors (who have it) 2x more productive than JPM's, at some point JPM's Compliance will need to cave.
I think it'll hinge on data security and how the data is scraped. My guess would be that under no circumstances will IB input into Copilot be allowed to be used for training or read externally. But there are probably smart lawyers and engineers who can structure something.
Side comment: when there's a will there's usually a way. But my experience has been that Compliance defer much more towards avoiding downside risk than pursuing upside from greater productivity (or in the case of Teams VCs, upside from great client satisfaction and ease of use). They do get there eventually though. 2 years late at least though usually.
OpenAI is doing it. But it takes time. Probably have to wait for a year or so. Maybe two.
The legal and compliance stuff is the most annoying, it requires specific law-makings w.r.t AI. Usually, the bank compliance teams don’t care about revenue generating because they aren’t getting paid for it. Banks probably need to hire a separate legal specialists teams to figure out a way to bypass all the compliance nonsense
What you suggested already exists. My firm has an enterprise GPT API license which they used to create their own internal ChatGPT product for anyone to try out without worry about data security (aptly named “Firmname”GPT). All of the data stays onsite and isn’t able to be used to improve GPT.
I think something cool that could be an additional feature is being able to upload legal docs and the like and ask questions/produce things from that given information set alongside the general knowledge it already has.
Has anyone used it for writing memos/other excluding confidential informations/names?
Yes its underrated. you need to enter precise task information and gather relevant datas before sending them. but it is truly a game changer.
I don't get how there is people saying "i work 70 hours per week" with tools like this. you download a M&A template online, Copy/paste the datas sent by your manager to ChatGPT and you've made 80% of the job in 15 minutes
Got it, I use it just for basic writing help as I’ll write bullet points and get a flushed out memo section. From my understanding most people at my group don’t use it and suggest not using it as seniors will frown on its use (which I don’t understand if I’m omitting confidential data and names)
expand. what specific tasks are you using chatgpt for?
Biggest issue for banks is the upload of info to ChatGPT. It just won't get past any good bank's compliance. It's too risky.
You may have Bank built AIs that are built to solve certain tasks but the public platform is a concern.
Bump
Ok
My bank is developing its own AI. I’m part of the testing group and it’s based off of ChatGPT 3.5. Pretty dogshit rn ngl
Lol bank in-house AI teams are a joke. They call some APIs from vendor and buy some cloud services, and they call that their own AI. Lmao. When I worked at sellside I couldn’t look at the quality of work.
I mean if they’re just calling the GPT API, then shouldn’t it just be the same quality as using ChatGPT?
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