Thursday, 23 October, 2025
Project Mercury: OpenAI's AI Threat to Junior Bankers
OpenAI has launched "Project Mercury," hiring over 100 former investment bankers from firms like JPMorgan and Morgan Stanley to train AI systems. This initiative is designed to automate complex, time-consuming tasks like building financial models for IPOs and restructurings, raising concerns that the AI will replace the routine "grunt work" typically performed by entry-level analysts.
Read full story at CNBC