OpenAI launches secret project to train AI to take over junior bankers' tedious tasks

Jinse Finance reported that OpenAI is reportedly leveraging more than 100 former investment bankers to train its artificial intelligence on how to build financial models, aiming to replace the tedious and time-consuming tasks in the industry that are typically handled by junior bankers. This team, which includes former employees from JPMorgan, Morgan Stanley, and Goldman Sachs, is part of a confidential internal OpenAI project codenamed "Mercury." According to an insider, participants are paid $150 per hour and are responsible for writing prompts and building financial models for various transactions, including restructurings and initial public offerings. OpenAI is also granting participants early access to its AI, which is being developed to replace entry-level investment banking tasks.