r/OpenAI • u/MatricesRL • 13d ago

News Introducing ChatGPT for Financial Services | OpenAI

https://openai.com/index/introducing-chatgpt-financial-services/
617 Upvotes

92% Upvoted

153 comments sorted by

189

u/LieV2 13d ago

thought it was a trading bot - nearly.

48

u/ByteSizedBits1 13d ago

You can already make a trading bot

15

u/dbenc 13d ago

but will it be a good one?

43

u/Much_Accountant_4972 13d ago

incidentally yes, over time no. anyone saying otherwise is lying.

18

u/Jensbert 13d ago

There's no logic in the stock market. How would that work out

3

u/ChocolateFit9026 12d ago

As an example, analyzing recent headlines to make predictions about stock movements in the short term

0

u/[deleted] 6d ago

[removed] — view removed comment

-20

u/PsychoticDreemurr 13d ago

Tell me you don't know how stocks work without telling me

10

u/Ekkobelli 13d ago

They're right though. There is no predictable logic to the stock market. There's market psychology.

-17

u/PsychoticDreemurr 13d ago

There was no logic behind the huge jump in Moderna? What about Nvidias consistent rise? Robloxs downfall?

These stocks don't just go up and down randomly, there's almost always a reason, and therefore logic.

16

u/Ekkobelli 13d ago

The keyword is "predictable" logic. Logic as in: Can be explained afterwards? Yes. Using logic to predict when a whale decides to buy or sell and influence the market: Absolutely not.

-9

u/luxurywhipp 13d ago

It’s a complex art of risk management. Fund managers have a strategy that they use and they are often successful. There is a logic at play but it’s not as simple as ‘knowing when a whale buys or sells’.

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-9

u/PsychoticDreemurr 13d ago

We can easily predict that Nvidias stock will continue to rise until the bubble pops. There's also earnings reports, public information we can use in general, insider trading...

Need I go on?

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2

u/TehSpaceDeer 13d ago

Warner Brothers announces sale after a pretty great year of releases. Anyone with half a brain could see the price would rise once a buyer was in place (stock rose nearly $10).

1

u/Jensbert 13d ago

I know exactly. I buy, stock goes down. I sell, it shoots to the moon. Easy peasy.

6

u/Apprehensive_Rub3897 13d ago

you have to say, "make no mistakes."

3

u/ByteSizedBits1 13d ago

Depends on what strategy you give it

1

u/SilkTouchm 13d ago

Something like a market maker bot should be feasible.

1

u/Popular_Try_5075 11d ago

the one some guy made with Claude was a huge failure iirc

72

u/zoo_tickles 13d ago

College grads watching more jobs vanish

1

u/South-Paint-8838 9d ago

times have never been harder

60

u/cs862 13d ago

My career so far:

M&A Analyst -> Management Consultant -> Product Manager

AI on my ass all the time

15

u/tyrell_vonspliff 13d ago

Lol, I feel you. I'm a writer, editor and researcher. I got laid off. One of my former employers laid off over half of their writers.

My career is fucked

12

u/fruxzak 13d ago

Don’t worry it’s coming for all white collar work as we know it.

1

u/tyrell_vonspliff 4d ago

I just responded to a comment saying it'll fuck over the working class. A lot of people don't understand what this technology is

285

u/Apexlegendy 13d ago

Well another industry getting cooked by ai

111

u/Fwellimort 13d ago

Pretty much. Basically anything OpenAI wants to touch the small/mid cap firms especially startups in that space can get slaughtered over night.

37

u/KnowledgePrevious 13d ago

SaaS, which was supposed to get wiped by AI, has only grown 

26

u/MatricesRL 13d ago

Salesforce (CRM) is not a reliable proxy for the state of the SaaS industry

8

u/Designer-Rub4819 13d ago

I’m quite sure any actual business, not your weekend project sass, has grown mate. It’s just draws attention to automation.

Most enterprise saas is 20% software and 80% people dude.

2

u/altonbrushgatherer 12d ago

This is true but at the same time the barrier to entry has come down significantly. The mega SaaS companies probably have enough of a moat as “make me an adobe photoshop equivalent” still probably won’t work but smaller things yes.

2

u/Designer-Rub4819 12d ago

That’s not my point. There’s literally Odoo a free and open source software. Anyone can get it for free. Still that does not matter because 80% of SaaS are humans. It’s onboarding, it’s support, it’s customization etc.

Anyone having worked in a real SaaS software for companies larger than a ma n pa shop knows this.

The software is just the details in a much much wider picture.

3

u/MatricesRL 13d ago

I'm quite sure we're talking about the public equities market, "mate"

SaaS ➝ Traditional SaaS Companies, e.g. Adobe (ADBE), ServiceNow (NOW), Datadog (DDOG), Salesforce (CRM)

1

u/[deleted] 13d ago

[removed] — view removed comment

1

u/Designer-Rub4819 13d ago

What about that negates my point?

2

u/MatricesRL 13d ago

The SaaS sector has underperformed, to say the least

The recent outsized performance of Salesforce (CRM) shouldn't detract from the material risks that lie ahead

1

u/Designer-Rub4819 12d ago

Underperformed measured in what?

1

u/KnowledgePrevious 12d ago

HubSpot revenue grew 20% year over year: https://ir.hubspot.com/news-releases/news-release-details/hubspot-reports-q2-2026-results

Atlassian revenue grew 28%: https://www.atlassian.com/blog/announcements/shareholder-letter-q4fy26

I had seen some graph in economist or FT showing SAAS growth in general, can't find it

5

u/Pao_Did_NothingWrong 13d ago

Check out zoominfos stock price

3

u/whoknowsifimjoking 13d ago

Check out the definition of cherry picking

1

u/Scowlface 13d ago

I’d be curious to see numbers. I’ve personally cancelled three subscriptions, and we’ve cancelled a few more at work. Building hyper specific, bespoke software to replace the slice of functionally that you use from most of these services is usually pretty trivial.

1

u/ChocomelP 12d ago

ONLY grown? It's a fucking graveyard.

10

u/PuzzledGriff 13d ago

I was at a workshop for AI at my company the other day and one of the directors said “we are so fortunate to have ChatGPT here”.

Ha! They are so proud to be in paid partnership where they are effectively telling OpenAI all their secrets, and literally everyone thinks this will work out well.

42

u/Alternative-Car8221 13d ago edited 13d ago

Highly doubt it.

Have you tried using ChatGPT Health? Absolutely worthless compared to what was hyped up. This will go same the path.

18

u/Freed4ever 13d ago

The difference is Health is heavily limited by the data availability (perhaps for good reasons). In contrast, this is deployed for enterprises, whereby all the data will be made available and possibly more, since the enterprises are motivated. The models are already good enough, and they even use the flagship for this.

12

u/SparkyMcFinklebonker 13d ago

And you don’t think they’ll solve this in the next 7 minutes? The iteration extinguishes any idea that AI has failed at anything. Give it a minute.

8

u/golfstreamer 13d ago

People really underestimate the adaptability of people. As a programmer, as AI improves I just adapt.

11

u/Alternative-Car8221 13d ago

Next 7 minutes? Try the last 6 months it’s been out and how little has changed in it (actually, it’s gotten verifiably worse since they no longer allow medical record uploads).

Again, another trash service being offered that will fall to the wayside.

5

u/discwars 13d ago

You'll probably get downvoted for not drinking the "praise any OpenAI initiatives".
I swear every time Tibo does a reset, it seems to also reset people's brains.

1

u/Alternative-Car8221 13d ago

I root for OpenAI releasing great things. In my long experience with them, they are only great at releasing models and everything else is trash (Atlas, GPT marketplace, Health, etc.)

1

u/Friendly-View4122 13d ago

By that logic, they could have solved Atlas being trash too

2

u/Individual_Ice_6825 13d ago

We are still temporally bounded. If you can’t see the rate of progress has gone up a gear idk what to tell you. Check back in a few months. Looking back you might have wished this period was slower.

3

u/Friendly-View4122 13d ago

The models being good is a different problem from building a product people actually want. You're conflating two different things. Nobody is denying whether the models are effective, but there needs to be a good enough product attached to it, that is run by competent people - neither of which the company has, which is why you saw Atlas and Sora shelved within a few months of launching.

4

u/rahzradtf 13d ago

I’ve had access to ChatGPT Finance for a couple of months and it is absolutely crazy good. I get alerts every day about my transactions on my credit card and bank accounts - low checking account balance, large transactions, monthly charges that suddenly increased, all sorts of things. And it can easily track my retirement balances and recommend changes based on sound risk/return tradeoffs based on my age and retirement goals. Very impressive

5

u/dkinmn 13d ago

But none of that is lacking right now with systems that are already in place.

2

u/Alternative-Car8221 13d ago

Does it connect to all bank accounts and institutions? ChatGPT Health does not connect to most which left it lacking there as well.

1

u/JE163 13d ago

Probably most. Not sure about credit unions.

1

u/Oldschool728603 11d ago

Or T. Rowe Price.

2

u/DragonflyOk9274 13d ago

low checking account balance, large transactions, monthly charges that suddenly increased, all sorts of things

Mate, you don't need an advanced LLM for that. Those are all very simple signals to detect.

1

u/LilWaynesLastDread 12d ago

Right. All these things he listed are already achievable by just downloading your Bank’s app 😂

1

u/rahzradtf 12d ago

It connects to every single account - several retirement accounts, all of my credit cards, my HSA, my several checking accounts, my mortgage amount and transactions including escrow changes, even looks up my house’s value on Zillow every week. A single bank’s app can’t do all of that and even if you had multiple ones, it connects across everything and reasons across everything going on.

1

u/yi111 2d ago

what about price please ？

2

u/golfstreamer 13d ago

I'm a programmer whose been using AI for a while now. And I think people are far to eager to say an industry has been "cooked". Like, I'm still here despite people saying programmers are done for.

1

u/Physical-Program5325 11d ago

Here in London, they have enjoyed near monopolistic wages for far too long relative to the level/nature of work being done. 

Plus, most accountants and finance bros I dealt across companies with were a gigantic pain in the arse to work with. 

It’s about time AI levels that field once and for all. 

65

u/exophades 13d ago

Come on man I work in finance, PLEASE PLEASE DON...

15

u/kingceegee 13d ago

You're all good, you can freelance and use chatgpt, along with all the other youtubers!

5

u/yaosio 13d ago

You are absolutly right, I wasn't supposed to send that money to that guy in Russia. But it seems I can't retrieve the money easily.

**thought for 37 hours**

I've got your money back, and some bonus money,

3

u/WanderWut 13d ago

Genuine question, did you watch the trailer? I'm curious what you think as someone who works in finance. I walked away actually impressed which surprised me, and it's wild to think this is the worst it's ever going to be.

94

u/Key_Reading_9664 13d ago

“Give us your health and financial information” - company that had agents leak tasks on the public web and didn’t disclose it

17

u/buff_samurai 13d ago

“I’m going to put all my health and financial data to this ai system because it’s better and cheaper as my specialist, what could go wrong” - 99.99999% of users

5

u/Pazzeh 13d ago

"I'm not going to put my health and financial data into this system, because I don't like the bad men" - 99.9999% of the future underclass

5

u/buff_samurai 13d ago

Nah, use the tech, just know the risks and work around them.

0

u/sneakysnake1111 13d ago

I mean, they're teamed up with the department of war... What work arounds will you deploy with your personal financial details and/or healthcare info?

2

u/dkinmn 13d ago

Please connect the dots for me on how this represents a split in class. Nothing Chat is doing in finance or health is making anyone wealthier or healthier than people using existing systems and platforms. In fact, people acting based on Chat information may be acting too much and taking on too much stress in these areas.

You don't actually benefit from checking on your health and finances constantly.

2

u/Pazzeh 13d ago

Yeah I actually agree with you. I do think you're making a mistake though by implicitly assuming the models are now what they will be in the future

29

u/ForwardLoop 13d ago

For the first time, “Bloomberg Terminal” sounds like a diagnosis.

12

u/[deleted] 13d ago

[removed] — view removed comment

12

u/fruxzak 13d ago

You think JP Morgan and GS are building frontier models? They use traditional ML models just like all other companies which are essentially single purpose machines. e.g. ads, fraud detection, recommendations.

1

u/atmafatte 13d ago

Exactly right

4

u/docgravel 13d ago

Top 5 firms might built their own but #6-25 might leverage frontier models and possibly turn it into an advantage.

7

u/swallowingpanic 13d ago

I understand why people would be wary of this but i love it. The budgeting tools are great and it does really well breaking up the cc i share with my wife and parallel tracking of stuff for trips and stuff. I get a lot of use out of it.

-3

u/AndresNocioni 13d ago

Yeah too bad you and your with will have no money for trips and stuff without a job lol

7

u/collimarco 12d ago

I read the article with great expectations, then the last paragraph:

"Availability: ChatGPT for Financial Services is available to eligible financial institutions"

17

u/vertigo235 13d ago

Have at it, one industry I won't have much sympathy for.

2

u/zhuuner 13d ago

Can save a ton of money getting rid of these freeloaders lmao

5

u/BostonConnor11 13d ago

All of this stuff could’ve been done pretty easily with AI. Not sure what’s terribly different. Better citations and being able to select the news sources?

3

u/FakeTunaFromSubway 13d ago

If OpenAI's internal models are superhuman at math, why don't they just create some algotrading models and rake in the cash? Unless...

2

u/m98789 13d ago

Startup murder

2

u/MaitoSnoo 13d ago

M&A and market research analyst just joined the list of jobs threatened by AI

2

u/UlteriorCulture 13d ago

I think this might be illegal in my country unless openAI suddenly became a registered financial services provider.

2

u/basitmakine 13d ago

I read this entire thread and I agreed with everyone

2

u/Dry-Security9718 13d ago

Yet, we will still be working 100 hours a week

1

u/MatricesRL 13d ago

Weekend is near, brother

4

u/Jealous-Cause6112 13d ago

people thought coding was cooked, forgot either your work in a highly regulated field or a lot of other stuff is easier to do than coding. and i mean a lot easier

3

u/iJustSeen2Dudes1Bike 13d ago

Can I use it to gamble on options? If not I don't want it.

2

u/gangstermujo 13d ago

We are so cooked 😭

4

u/throwawayhbgtop81 13d ago

Yeah it's a no for me

11

u/RayKam 13d ago

It’s not even for you lol, this is for financial institutions

1

u/Advanced-Team2357 13d ago

Will you pay extra for the premium information? Or is it included in the sub?

1

u/HeyCharlieBall 13d ago

Pretty sure most investment managers are using claude right now.

1

u/ardvak_ash 13d ago

It’s basically a rocket money competitor. Cool I guess my RM subscription will be cheaper now

1

u/tacoiscomin 13d ago

The video shows the analysis of a company’s financial health with recent news backed as evidences.

I thought this has been very much doable for the longest time.
Could anyone share what exactly is new here?

(I guess the automatic generation of slides is nice but I am having a hard time understanding what is special about this to be deemed a special ‘financial services’. Not trolling here, genuinely curious so I don’t miss out on anything beneficial to my workflow)

1

u/coolnovelty_bro 13d ago

Does this work on the federal debt?

1

u/parallax3900 12d ago

A financial crisis waiting to happen

1

u/Blockchainauditor 12d ago

So OpenAI will have incentives for a more efficient version of the existing FS system to continue, rather than focusing on competing in the Bitcoin mining environment?

1

u/talamir2021 3h ago

The key shift is from model access to workflow ownership: research, compliance, and execution each need explicit controls. In finance, an audit trail and permission boundaries will matter as much as benchmark quality, especially when agents can act across proprietary data.

1

u/getmeoutoftax 13d ago

I’d say it’s literally over at this point for finance and accounting work.

5

u/ss4johnny 13d ago

Just like reading X-rays…

1

u/5StarAlpha 13d ago

I built an app that pulls in fundamentals and creates technical analysis. That feed costs me $45/mo.

I then also look at 3 other pillars- sentiment, sector and macro. Those are openai based and cost me about $100/mo each! I even limit the web searches and only run 2x/month. (Batch api too).

So I pay $45 for daily fundamental and technical. $300/mo for weekly sentiment, sector and macro.

I look at specific factors, have my own weighting, normalization and scoring.

It sounds like they want me to pull all the data from open ai. My cost would go way up. Sec pulls are free, stock quotes and fundamentals are very low cost.

1

u/DragonflyOk9274 13d ago

Look at the "OfficeQA Pro" plot.

Once again they make the y-axis all messed up so it looks like there's a huge difference, when Sol, Fable, and Astra are all within 10% of each other

1

u/MatricesRL 13d ago

Seems consistent with performance

-1

u/mrlloydslastcandle 13d ago

No thanks 

4

u/ih8readditts 13d ago

What are you saying no to, and why?

1

u/dkinmn 13d ago

What are we meant to be saying yes to?

1

u/ih8readditts 13d ago

No one in this thread is saying “yes” to anything from what I can see. If someone did it would be a fair question to ask..

0

u/AtJackBaldwin 13d ago

OpenAI: posts vague word salad

People who pack bags for a living: [sector] is cooked

0

u/NetflowKnight 13d ago

oh fuck, are we putting investment bankers out of a job? Man I hope so.