Impact of AI on Investment Banking
Investment banks are increasingly using AI to automate tasks traditionally done by entry-level analysts, potentially impacting the future of these roles in the industry.
Key Points
- AI tools are being used to automate tasks such as creating presentations and analyzing financial data
- AI could replace or supplement nearly three-quarters of bank employees' working hours
- Top executives are debating the extent to which incoming analyst classes can be reduced
Pros
- Increased efficiency in completing tasks
- Potential for cost savings for banks
Cons
- Potential reduction in job opportunities for entry-level analysts