OpenAI reportedly developing AI to replace entry-level banking tasks

The initiative seeks to automate time-consuming analytical tasks traditionally performed by junior investment bankers, including work on restructurings and initial public offerings.

Participants in the project, including former employees of JPMorgan Chase, Morgan Stanley, and Goldman Sachs are paid $150 per hour to develop prompts and build models. They also receive early access to OpenAI’s new system, designed to simulate the work of entry-level financial analysts.

OpenAI said it cooperates with industry experts “to improve and evaluate the capability of our models across different domains,” noting that experts are recruited and compensated by third-party providers. The company, now valued at around $500 billion, has yet to reach profitability.

Project Mercury reportedly uses an AI-driven application process involving chatbot interviews and financial modeling tests. Contractors are required to submit weekly Excel-based models that meet professional formatting standards before being integrated into OpenAI’s system. Participants include former staff from Brookfield, Mubadala, Evercore, and KKR, as well as MBA students from Harvard and MIT.

Analysts on Wall Street are known for their heavy workloads, often exceeding 80 hours per week, creating complex spreadsheets and presentations. While AI tools like those under development by OpenAI promise to ease this burden, they also raise concerns about the future of entry-level jobs in investment banking.

Earlier, it was reported that a study examined how advanced language models like GPT-5 express political bias and emotional tone. Researchers tested responses to about 500 prompts on 100 topics, from neutral to politically charged, to evaluate how OpenAI’s systems can shift from opinionated dialogue toward neutral, factual communication.