OpenAI’s new project threatens to replace junior bankers — here’s what we know

OpenAI has reportedly hired over 100 former bankers and consultants from top firms such as Morgan Stanley, JPMorgan Chase and Goldman Sachs as part of a new secret initiative, codenamed “Mercury.” The project’s goal is to train AI systems to perform advanced financial modelling and automate consulting tasks that are typically handled by junior investment banking analysts.

These tasks include building IPO models, conducting restructuring analyses, and preparing leveraged buyout projections, according to a WSJ report.

According to multiple reports,