Wall Street executives have been promoting generative AI as a tool to rapidly produce documents, personalize client research delivery, and boost productivity while reducing repetitive tasks and headcount. Executives cited examples such as AI drafting IPO documents in minutes, JPMorgan leadership using internal AI suites, and UBS generating analyst avatars to explain research. Finance professionals reported cautious optimism during early pilots, noting some workflow improvements as tools were tested. Concerns remain about technology reliability, corporate rollout strategies, and potential effects on jobs and work-life balance. An anonymous survey invites finance workers to report current, real-world AI use in daily work.
David Solomon's talked about AI that can draft IPO documents in minutes. Jamie Dimon is a "tremendous" user of JPMorgan's suite of tools. UBS has used AI to generate avatars of analysts that explain research to clients. Wall Street's C-Suites have been hyping generative AI - touting their tools at conferences, earning calls, and interviews, and talking big about how it will improve productivity, reduce gruntwork, and even keep headcount low.
Last year, Business Insider talked to dozens of finance professionals about how they were actually using generative AI. Most said they were cautiously optimistic. At the time pilots were being run, tools were being tested, and some workflows were getting an upgrade. But others raised doubts about the technology's reliability, concerns about their firms' rollout, and questioned how it would affect jobs or work-life balance.
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