OpenAI has launched ChatGPT for Financial Services, a version of its enterprise product built to research companies, analyze financial data and build the presentations that investment bankers rely on, work that has long fallen to Wall Street’s analysts and associates, CNBC reported.
The product is a tailored version of ChatGPT Work, made with “design partners” Morgan Stanley and Evercore, according to OpenAI vice president of product Nick Turley. It runs on GPT-6 Astra, the company’s most advanced model. “We’re effectively teaching ChatGPT to research like an analyst and back up its conclusions like an analyst as well,” Turley said at a briefing.
What separates it from ChatGPT Work is native data access from LSEG, Daloopa, Crunchbase and PitchBook, covering things like financial statements and earnings transcripts, plus automated access to the data subscriptions users already have. Citations let users trace figures back to source filings and audit charts, and administrators get controls for sensitive deal materials. The initial focus is investment banking and equity research.
In a live demo, Turley had the system analyze a potential M&A target, pull figures from industry-standard data sources and produce a PowerPoint deck in a bank’s house style. “It’s very easy to make slides that look good, but it’s much harder to make slides [that] actually make sense,” he said. “To get here, ChatGPT had to choose the relevant peers. It had to pull the prices into a spreadsheet. It had to check the chart against the data, and it had to explain the sell-off and the rebound.”
Turley said there was “a ton of demand” but declined to name banks that have signed on. Asked whether the tool would reduce the need for junior bankers, he called it a productivity boost. “If you study the life of an analyst or of a banker, depending on the industry, they’re working 100-hour weeks,” he said. “I think in the same way that Microsoft Excel transformed the industry and allowed them to produce better analysis faster, you will see technology like this do the same.”
The launch is part of OpenAI’s push into enterprise software, where it competes with Anthropic, which introduced Claude for Financial Services last year, and Google. CFO Sarah Friar told investors in August that enterprise now brings in more revenue than the consumer business. Turley said OpenAI plans tailored versions for “a number of sectors” beyond finance.
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