OpenAI launches ChatGPT for financial services

Summary

CNBC's Kate Rooney reports on OpenAI launching ChatGPT for financial services, built in partnership with Morgan Stanley and Evercore. The enterprise product targets analyst tasks and is framed as an answer to Anthropic. OpenAI says it will make analysts more productive rather than eliminate junior banker jobs.

• OpenAI launched a ChatGPT version tailored for financial services.
• Morgan Stanley and Evercore helped design the new product.
• The tool is positioned against rival Anthropic's Wall Street push.
• It targets labor-intensive analyst work such as pitch books and research.
• OpenAI executive Nik Turley says ChatGPT is taught to research and back up conclusions like an analyst.
• The company compares the tool to Microsoft Excel and says junior bankers will remain relevant but more productive.