AI in excel
Is anyone incorporating AI into their models? If yes how and for what? Curious to see uses for it. Was wondering if there is a way to use it to summarize trends.
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Based on the most helpful WSO content, AI is being incorporated into financial models and Excel workflows in several innovative ways. Here are some examples:
Automating Data Collection and Reporting:
Natural Language Processing (NLP):
Trend Summarization:
Predictive Analytics:
Risk Analysis:
Financial Model Generation:
If you're looking to summarize trends specifically, you could explore using Python or Excel add-ins that leverage AI to process and visualize data trends effectively. This would make your models more dynamic and insightful.
Sources: https://www.wallstreetoasis.com/forum/hedge-fund/machine-learning-taking-over-hf-research-analyst-roles-in-near-future?customgpt=1, AI in fundamental investing, Using Python to Automate tasks in ER/IB, Will robots replace your consulting or financial career?, 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
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do you mean extracting trend insights from a single excel or industry / region as a whole?
Mainly to spot trends or major swings in financials, especially when the financials are larger and more detailed and going line by line can be tedious and can miss things
Got it, and it's interesting. I've been focusing more on investment research than incorporating it in models. Would you use it much?
It's hard. Excel has already added a pay for use add-on called CoPilot. You'd have to get some sort of AI to that can get around the licensing to use it in Excel. FYI CoPilot sucks it's in the infant stages of learning, so all it really can do is reconcile data and they took away the feature to write nested formulas and Macros. They did nothing but clean up the formulas and macros, if you had redundancies or had used an outdated formula, like if you did weighted averages and did it the old way, it showed you how to reconcile with SumProduct, which had some issues when trying to implement it into Power BI or Power Pivots. So if you have a work computer, you probably can't get around the Excel Licensing for CoPilot right now. You can use ChatGPT on the side and use that to write codes and macros and nested formulas but you'd still have to then write it into the Excel workbook you are using.
Also the reconcile is ehhhhh. you have better control importing to tableua or Power BI
1 year has passed and Claude made it useless to even know a single shortcut. It’s not looking good
Claude AI has erased codes and logs multiple times, used fake reports multiple times in UW scenarios, and finally, some of the first companies to integrate AI have already come out in recent earnings calls saying the layoffs seem presumptive and the learning curve was far greater than they anticipated, see Salesforce and PwC. This is happening at tech companies now, you think crusty old YT men of CRE are going to adapt as fast.
Add a bit on this. For context I'm building AI financial modeling - basically struggling the same issue here, so our approach is to create a standalone platform mimicking spreadsheet UI with chat bot on the LHS and be Excel-exportable.
Yes. Check out Shortcut.ai.
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