The writer is a former global head of equity capital markets at Bank of America and is now a managing director at Seda Experts
The rise of artificial intelligence in investment banking has ushered in a familiar ritual of hand-wringing. If machines can automate the grunt work — compiling pitch books, crunching financial models, triangulating data — what happens to the juniors?
A recent FT report on AI start-up Rogo’s $50mn funding round, led by Josh Kushner’s Thrive Capital, has added to the debate. The company claims its tech can replicate some labour-intensive junior tasks in minutes.
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