ChatGPT in IB/PE Use Cases
We have all seen the headlines and the posts talking about how AI will replace our jobs and the tech bros of WSO are going to relish in their "I told you so's" about the superiority of tech. Now is your time to shine, or the time for any of the brilliant analysts out there--
How are you all currently using ChatGPT to make your job easier? Are you asking it to fix excel formulas? Make CIM's? Reply to Emails? Looking for specific uses that I can implement to make me not bottom bucket.
It’s blocked for us? You’re an idiot if you’re feeding it confidential information…it keeps everything as training data. Seems like a super simple way to jeopardize your job if you’re using it to speed up work involving MNPI. Have also had some serious accuracy issues with it. It’s a glorified search engine in a lot of respects
I see no reason you could not feed general information/news to write summaries for marketing materials or internal items. Probably cheaper than an Indian team
Work in FP&A and use a lot of big data (sql in snowflake, alteryx, tableau, etc.). have intermediate Sql skills but have used ChatGPT to write SQL scripts I otherwise wouldn't have been able to figure out on my own. Wouldn't say it's replacing jobs but am using it to augment my abilities as an analyst. After using it don't really see it replacing jobs anytime soon given it still has limitations but it's powerful to augment your skills where you may be weak, especially in technical skills like SQL above. Another use case could be asking ChatGPT to educate me on xyz industry like I'm 12 years old, etc.
Curious about this as well. Feel like at the moment it's best as a tool to maybe polish up writing and grammar for emails, investment memo writing, etc. but its really up to the person's creativity to push the limits.
I was reading a CIM with a super cryptic business description in the wireless telecom space (an industry I have no knowledge of) where I had no idea what the fucking Company actually did. Asking ChatGPT to simplify it for me and a lot of the lingo was actually really helpful.
Had some annoying admin/calendar work to do in excel. Required sorting and outputting every few days. Had ChatGPT write me some VBA to automate the task. Took a couple of iterations but came out with a macro that I used every day.
Very useful for building out bullet points in industry overviews for CIPs / pitches / profiles and strips. Had a fellow analyst use it to fix an excel formula, but can’t imagine it’s very good at helping you created (at least, comparable to wikihow). Obviously stupid to feed it confidential stuff like the above user says, but it’s got some usage.
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