OpenAI is expanding its work in the financial sector and is now looking for an investment banking expert to join its Applied AI team in San Francisco, US. The company is offering a base salary of $185,000 to $205,000 a year, which is more than Rs 2 Crore, along with equity benefits.
According to the job listing, the role is meant for professionals with at least two years of investment banking experience who understand “how investment banking work is actually performed, including company and industry research, financial analysis and modelling, valuation, diligence, transaction execution, and the creation and review of client materials.”
The successful candidate will help OpenAI build and improve AI tools designed for investment banking professionals.
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The person hired for the role will check if AI tools can perform banking tasks accurately and meet high quality standards. The selected candidate will “Work closely with product teams to identify the highest-value opportunities for AI in investment banking, prototype new workflows using OpenAI tools, and assess whether early experiences meet the needs of real users.”
OpenAI wants someone who has “investment banking experience, including live transaction execution and the production of high-quality analyses, financial models, and client materials. Demonstrated ability and judgment matter more than title or tenure.”
The company is looking for a candidate who understands the responsibilities of different roles in investment banking, from junior analysts to senior directors. This knowledge will help the person identify which tasks can be handled by AI, where AI can help professionals in making decisions and which important responsibilities should continue to be reviewed by people.
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Investment banks are spending huge amounts of money on new technology, especially artificial intelligence. Many of the world's biggest banks are increasing their AI investments to improve the way they work.
According to earlier reports by Business Insider, JPMorgan Chase plans to spend around $18 Billion a year on technology, with AI as a major focus. Goldman Sachs is also investing heavily, with around $6 billion set aside for technology this year.
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