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Will ChatGPT affect your six figure banking job?

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ChatGPT is is not going to affect front-end of investment banking much.


Bloomberg has spent years trying to build a computer that can create financial models and compute valuations.


Guess what?


They are still working on it.


The truth is that banking is as much of an ART as it is SCIENCE.


There are multiple opinions involved.


You can have 10 people build a financial model using the same data but come out with 10 different conclusions.


11, if one of them studied at Oxford. 😂😂


Why?


- Predicting the success or downfall of a company is subjective.


No one really knows what is going to happen in the future.


- The same goes for predicting the economy.


- Could you have predicted COVID and its effects?


- The weighting of each data point is subjective.


Essentially, everything is based on multiple moving parts.


Therefore, it takes a person to be creative with the data they feed into computing the valuation.


ChatGPT will have little effect on front-end jobs.


Cannot say the same about the impact of AI on middle-office and back-office roles.


The bots 🤖 are coming!


Moral of the story - you ask?


When choosing a career in banking - Play the long game!



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