OpenAI Looks to Replace the Drudgery of Junior Bankers’ Workload
Affected assets and topics
Why it matters
OpenAI is collaborating with over 100 ex-investment bankers to develop AI that can replace junior bankers' workload, focusing on financial modeling and transaction types. The project, codenamed Mercury, aims to automate entry-level tasks at investment banks. Contractors are paid $150 per hour to contribute to the AI's development.
Expected market reaction
Moderate to High: This development could significantly impact the junior banking workforce, potentially leading to job displacement and changes in the industry's labor dynamics. It may also influence the adoption of AI in financial services, with potential implications for investment banks' operational efficiency and cost structures.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- groq-llama-3.1-8b-instant
- Analysis version
- groq-llama-3.1-8b-instant
- Article id
- 661
Original source
OpenAI has more than 100 ex-investment bankers helping train its artificial intelligence on how to build financial models as it looks to replace the hours of grunt work performed by junior bankers across the industry. The group, which includes former employees of JPMorgan Chase & Co., Morgan Stanley, and Goldman Sachs Group Inc., is part of a secretive project inside the startup that’s code named Mercury, according to documents seen by Bloomberg. Participants are paid $150 per hour to write prompts and build financial models for a range of transaction types, including restructurings and initial public offerings, according to a person familiar with the effort. The company has also granted the contractors early access to the AI it’s creating that aims to replace entry-level tasks at investment banks. Bloomberg News Chief Wall Street Correspondent Sri Natarajan and Finance Reporter Katherine Doherty (Source: Bloomberg)
Read the full article on Bloomberg
Original article published by Bloomberg on October 22, 2025. Analysis and insights provided by AnalystMarkets AI.