OpenAI hiring $200k investment banking expert to expand into finance

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OpenAI plans to hire a $200k Investment Banking expert as it continues to target finance

The company wants to improve financial accuracy, consistency and overall quality

ChatGPT already has its own personal finance tool

OpenAI is advertising a new "Subject Matter Expert, Investment Banking" role within its team, serving as the latest hint that the ChatGPT maker wants to expand its reach into the finance sector.

This latest position strongly implies that the company wants to increase more sophisticated Wall Street type tasks, rather than be an all-purpose chatbot, and it makes sense.

We've already seen OpenAI and rivals like Anthropic heavily target certain sectors – banking and law being two of the most evident in recent months.

Could OpenAI be expanding its reach into finance?

OpenAI described investment banking as one of the most demanding forms of knowledge work, putting pressure on workers to "synthesize fragmented information, exercise judgment under pressure, and produce precise, defensible models, analyses and client materials."

Being that the job was posted in an entire blog post-style announcement rather than on a dedicated careers platform, it's clear the role will be a high-level one reporting to senior leaders and will play a considerable role in the company's direction. The salary of $185,000 to $205,000, plus equity, is also indicative of the role's importance.

The announcement highlights the importance of quality over quantity, stressing the need for AI to help produce work that's financially correct, traceable and consistent.

OpenAI also wants prospective candidates to help identify the highest-value AI opportunities in investment banking – another clear signal that the company is going after the sector big-time.

With its existing expertise, OpenAI has already targeted the consumer end of the sector with a new Personal Finance tool within ChatGPT that connects to bank accounts to give users insights into their spending habits, investments and savings.