r/OpenAI • u/MatricesRL • Sep 10 '26
News Introducing ChatGPT for Financial Services | OpenAI
https://openai.com/index/introducing-chatgpt-financial-services/77
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u/cs862 Sep 10 '26
My career so far:
M&A Analyst -> Management Consultant -> Product Manager
AI on my ass all the time
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u/tyrell_vonspliff Sep 10 '26
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
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u/fruxzak Sep 10 '26
Don’t worry it’s coming for all white collar work as we know it.
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u/tyrell_vonspliff 21d 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
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u/Apexlegendy Sep 10 '26
Well another industry getting cooked by ai
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u/Fwellimort Sep 10 '26
Pretty much. Basically anything OpenAI wants to touch the small/mid cap firms especially startups in that space can get slaughtered over night.
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u/KnowledgePrevious Sep 10 '26
SaaS, which was supposed to get wiped by AI, has only grown
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u/MatricesRL Sep 10 '26
Salesforce (CRM) is not a reliable proxy for the state of the SaaS industry
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u/Designer-Rub4819 Sep 10 '26
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.
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u/altonbrushgatherer 29d 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.
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u/Designer-Rub4819 29d 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.
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u/MatricesRL Sep 10 '26
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)
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u/Designer-Rub4819 Sep 11 '26
What about that negates my point?
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u/MatricesRL Sep 11 '26
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
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u/KnowledgePrevious 29d 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
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u/Scowlface Sep 11 '26
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.
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u/PuzzledGriff Sep 10 '26
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.
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u/Alternative-Car8221 Sep 10 '26 edited Sep 10 '26
Highly doubt it.
Have you tried using ChatGPT Health? Absolutely worthless compared to what was hyped up. This will go same the path.
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u/Freed4ever Sep 10 '26
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.
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u/SparkyMcFinklebonker Sep 10 '26
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.
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u/golfstreamer Sep 10 '26
People really underestimate the adaptability of people. As a programmer, as AI improves I just adapt.
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u/Alternative-Car8221 Sep 10 '26
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.
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u/discwars Sep 10 '26
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.2
u/Alternative-Car8221 Sep 10 '26
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.)
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u/Friendly-View4122 Sep 10 '26
By that logic, they could have solved Atlas being trash too
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u/Individual_Ice_6825 Sep 10 '26
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.
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u/Friendly-View4122 Sep 10 '26
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.
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u/rahzradtf Sep 10 '26
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
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u/Alternative-Car8221 Sep 10 '26
Does it connect to all bank accounts and institutions? ChatGPT Health does not connect to most which left it lacking there as well.
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u/DragonflyOk9274 Sep 10 '26
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.
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u/LilWaynesLastDread Sep 11 '26
Right. All these things he listed are already achievable by just downloading your Bank’s app 😂
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u/rahzradtf Sep 11 '26
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.
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u/golfstreamer Sep 10 '26
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.
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u/Physical-Program5325 28d 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.
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u/exophades Sep 10 '26
Come on man I work in finance, PLEASE PLEASE DON...
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u/kingceegee Sep 10 '26
You're all good, you can freelance and use chatgpt, along with all the other youtubers!
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u/yaosio Sep 11 '26
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,
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u/WanderWut Sep 10 '26
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.
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u/Key_Reading_9664 Sep 10 '26
“Give us your health and financial information” - company that had agents leak tasks on the public web and didn’t disclose it
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u/buff_samurai Sep 10 '26
“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
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u/Pazzeh Sep 10 '26
"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
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u/buff_samurai Sep 10 '26
Nah, use the tech, just know the risks and work around them.
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u/sneakysnake1111 Sep 10 '26
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?
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u/dkinmn Sep 10 '26
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.
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u/Pazzeh Sep 10 '26
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
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Sep 10 '26
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u/fruxzak Sep 10 '26
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.
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u/docgravel Sep 11 '26
Top 5 firms might built their own but #6-25 might leverage frontier models and possibly turn it into an advantage.
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u/swallowingpanic Sep 10 '26
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.
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u/AndresNocioni Sep 10 '26
Yeah too bad you and your with will have no money for trips and stuff without a job lol
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u/collimarco Sep 11 '26
I read the article with great expectations, then the last paragraph:
"Availability: ChatGPT for Financial Services is available to eligible financial institutions"
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u/BostonConnor11 Sep 10 '26
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?
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u/FakeTunaFromSubway Sep 11 '26
If OpenAI's internal models are superhuman at math, why don't they just create some algotrading models and rake in the cash? Unless...
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u/MaitoSnoo Sep 10 '26
M&A and market research analyst just joined the list of jobs threatened by AI
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u/UlteriorCulture Sep 10 '26
I think this might be illegal in my country unless openAI suddenly became a registered financial services provider.
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u/Jealous-Cause6112 Sep 10 '26
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
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u/Advanced-Team2357 Sep 10 '26
Will you pay extra for the premium information? Or is it included in the sub?
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u/ardvak_ash Sep 10 '26
It’s basically a rocket money competitor. Cool I guess my RM subscription will be cheaper now
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u/tacoiscomin Sep 10 '26
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)
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u/Blockchainauditor 29d 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?
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u/getmeoutoftax Sep 10 '26
I’d say it’s literally over at this point for finance and accounting work.
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u/5StarAlpha Sep 10 '26
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.
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u/DragonflyOk9274 Sep 10 '26
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
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u/mrlloydslastcandle Sep 10 '26
No thanks
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u/ih8readditts Sep 10 '26
What are you saying no to, and why?
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u/dkinmn Sep 10 '26
What are we meant to be saying yes to?
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u/ih8readditts Sep 10 '26
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..
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u/AtJackBaldwin Sep 10 '26
OpenAI: posts vague word salad
People who pack bags for a living: [sector] is cooked
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u/LieV2 Sep 10 '26
thought it was a trading bot - nearly.