{"id":1301636,"date":"2025-10-22T10:35:18","date_gmt":"2025-10-22T05:05:18","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1301636"},"modified":"2025-10-22T10:35:46","modified_gmt":"2025-10-22T05:05:46","slug":"chatgpt-makers-launch-banking-automation-project-hires-ex-bankers","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/chatgpt-makers-launch-banking-automation-project-hires-ex-bankers\/","title":{"rendered":"ChatGPT Makers Launch Banking Automation Project; Hires Ex-Bankers"},"content":{"rendered":"\n<p>OpenAI has launched a groundbreaking initiative called <strong>Project Mercury<\/strong>, enlisting over 100 former investment bankers to train its AI models on financial tasks usually performed by junior bankers. The project\u2019s ultimate goal is to <strong>automate financial modelling and data-heavy processes<\/strong> in the investment banking world, including IPO preparations, restructurings, and mergers.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"614\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks-1024x614.jpg\" alt=\"ChatGPT Makers Launch Banking Automation Project; Hires Ex-Bankers\" class=\"wp-image-1301641\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks-1024x614.jpg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks-300x180.jpg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks-768x461.jpg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>These professionals, who have previously worked with global giants like <strong>Goldman Sachs, JPMorgan Chase, and Morgan Stanley<\/strong>, are paid $150 per hour to <a href=\"https:\/\/www.financialexpress.com\/world-news\/us-news\/ai-to-take-over-banking-jobs-openai-launches-project-mercury-for-automation-of-entry-level-tasks\/4017440\/\">build financial models<\/a> and create prompts that help OpenAI\u2019s systems understand the intricacies of banking workflows.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>What Is Project Mercury All About?<\/strong><\/h3>\n\n\n\n<p>Project Mercury underscores OpenAI\u2019s ambition to make its AI useful across multiple professional domains, such as <strong>finance, consulting, legal, and technology<\/strong>. Despite its massive $500 billion valuation, OpenAI continues to explore sustainable business models, and financial automation appears to be a promising direction.<\/p>\n\n\n\n<p>An OpenAI spokesperson explained that domain experts are being hired through third-party suppliers to <strong>train and evaluate AI capabilities<\/strong> across different industries. For the finance sector, this could mean <strong>AI replacing repetitive and time-consuming analyst tasks<\/strong> \u2014 a major shift for an industry long dependent on human expertise and long working hours.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Why Junior Bankers Are Watching Closely<\/strong><\/h3>\n\n\n\n<p>Investment banking analysts typically clock over <strong>80 hours a week<\/strong>, juggling Excel models and PowerPoint presentations \u2014 often referred to internally as the \u201c<em>pls fix<\/em>\u201d culture. With AI tools advancing rapidly, these tasks could soon be handled by machines, raising concerns about <strong>job security for junior bankers<\/strong> while promising higher efficiency for firms.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Hiring Process: AI Interviewing Humans<\/strong><\/h3>\n\n\n\n<p>Applying to Project Mercury is as futuristic as the project itself. Candidates first go through a <strong>20-minute interview with an AI chatbot<\/strong>, followed by rigorous tests on financial modelling and statement analysis. Contractors are expected to deliver one high-quality model per week, adhering to industry formatting and presentation standards.<\/p>\n\n\n\n<p>Participants hail from top firms like <strong>Brookfield, Evercore, Mubadala Investment<\/strong>, and <strong>KKR<\/strong>, as well as MBA programs at <strong>Harvard and MIT<\/strong> \u2014 signaling how AI is fast becoming a partner in Wall Street\u2019s next chapter.<\/p>\n\n\n\n<p><a href=\"https:\/\/scanx.trade\/stock-market-news\/global\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks\/22607123\">Image Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OpenAI has launched a groundbreaking initiative called Project Mercury, enlisting over 100 former investment bankers to train its AI models on financial tasks usually performed by junior bankers. The project\u2019s ultimate goal is to automate financial modelling and data-heavy processes in the investment banking world, including IPO preparations, restructurings, and mergers. These professionals, who have [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":1301641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1541,8855],"class_list":["post-1301636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-openai","tag-project-mercury"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ChatGPT Makers Launch Banking Automation Project; Hires Ex-Bankers - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/chatgpt-makers-launch-banking-automation-project-hires-ex-bankers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ChatGPT Makers Launch Banking Automation Project; Hires Ex-Bankers - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"OpenAI has launched a groundbreaking initiative called Project Mercury, enlisting over 100 former investment bankers to train its AI models on financial tasks usually performed by junior bankers. The project\u2019s ultimate goal is to automate financial modelling and data-heavy processes in the investment banking world, including IPO preparations, restructurings, and mergers. These professionals, who have [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/chatgpt-makers-launch-banking-automation-project-hires-ex-bankers\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-22T05:05:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-22T05:05:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2025\/10\/openai-recruits-wall-street-veterans-to-train-ai-for-investment-banking-tasks.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"768\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mohul Ghosh\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohul Ghosh\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/chatgpt-makers-launch-banking-automation-project-hires-ex-bankers\/\",\"url\":\"https:\/\/trak.in\/stories\/chatgpt-makers-launch-banking-automation-project-hires-ex-bankers\/\",\"name\":\"ChatGPT Makers Launch Banking Automation Project; 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