OpenAI’s new project could make junior bankers redundant

OpenAI has quietly hired over 100 former bankers and consultants from Morgan Stanley, JPMorgan Chase, and other top firms as part of a new initiative to train its AI for advanced financial modelling and consulting automation, WSJ reported on Tuesday.

The project, codenamed “Mercury,” is designed to replicate and ultimately automate much of the grunt work typically done by junior investment banking analysts, including building IPO models, restructuring analyses, and leveraged buyout projections.

According to multiple reports, OpenAI is paying these…