currently looking to practice for this summer on how i can automate some stuff and make my life easier when i’m working. how are you utilizing AI, and what are you doing with it? are you using it on ppts or other stuff? saw the wso IG post and wanted to elaborate on it
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Ah, the quest to harness AI to streamline the daily grind – a noble pursuit indeed! Based on the most helpful WSO content, here's how AI is being utilized in the finance sector:
Deal Origination and Due Diligence: AI tools are being used to ingest vast amounts of structured and unstructured data, churning out standardized reports in minutes. This is particularly useful for financial analysts who are looking to automate parts of their workflow.
Data Processing in Investing: Machine learning and deep learning are employed for tasks like sentiment analysis on earnings call transcripts, counting cars in a parking lot using neural networks, or extracting text from scanned receipts. This can be a boon for investment analysts looking to sift through large datasets.
Portfolio Risk Management: Advanced statistical techniques, possibly powered by AI, are used to manage risk by hedging out correlations and unwanted factor exposures. This could be useful for those in asset management or hedge funds.
Operational Efficiency: AI solutions are implemented in portfolio companies to drive market monitoring, sales optimization, and overall operational efficiency, which could be of interest if you're looking at the operational side of finance.
Fundamental Investing: AI is expected to assist portfolio managers as a researcher, which means it could be used for analyzing big data and acting as an advanced screener.
As for practical applications like PowerPoint (PPTs) and other tasks, AI can be used to automate repetitive tasks such as data entry, formatting slides, or even generating basic templates and content outlines based on provided data. However, the specifics of how AI is applied to PowerPoint presentations were not detailed in the WSO threads provided.
If you're looking to practice and prepare for the summer, consider exploring AI tools that can handle data analysis, report generation, and perhaps even some elements of presentation creation. Just remember, while AI can be a powerful tool, it's also important to maintain a strong grasp on the fundamentals of your work. After all, AI is there to augment your skills, not replace them.
Sources: AI in fundamental investing, Will robots replace your consulting or financial career?, Thoughts on AI and the future of the job market?, 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, 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
AI is currently banned at most banks due to data security issues (all of these AI products collect everything you put into it and use it; you can Google it, but Samsung workers leaked confidential code via ChatGPT and it started showing up in queries).
They'll likely roll out some tools in the next 6-12 months once they iron out the data issues, but main thing to be aware of on AI right now as an intern is that you can't use it unless your bank says it is okay. This includes third-party tools - ChatGPT is usually blocked, but no using other, smaller tools to transcribe calls, generate content etc unless your bank specifically whitelists them.
I imagine this will also be a topic at intern/FT training as current FTs have gotten a ton of emails about not using it
When I’m putting together an investment memo or something like that in PowerPoint, I usually outline my thoughts first and then paste it into AI and have it send back a more intelligently written paragraph.
I struggle with communication and don’t have particularly good writing skills. AI helps bridge that gap.
I use AI to create Google Slides presentations. Among other projects, I am a consultant for an NGO and also work with several marketing departments for clients. I often develop sales presentations this way and sometimes annual reports, too. It saves me a lot of time, and our GM allows us to use AI for this purpose. Also, I often do content analysis with AI, usually for text classification and content and topic identification. Helps with researching client's competitors and especially for marketing-related discussions.
We are starting to get ai tools internally that are hooked in to our databases and systems and in theory make it easier to find things and trouble shoot things. I've yet to get any real advantage out of it though.
Like the other poster said any external /general AI engines are completely banned. The industry probably needs to wait until Microsoft do some excel and PowerPoint integrations.
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