OpenAI hires bankers for $150 per hour to replace them with AI
OpenAI decided to teach AI to replace bankers, and you know how they’re doing it? They hire those very bankers to teach the neural network their own job. The irony of the situation is off the charts.
Sam Altman is working on the Mercury project for training AI in financial models and deals, Bloomberg writes. OpenAI hired about 100 former employees of JPMorgan, Morgan Stanley and Goldman Sachs. They pay them $150 per hour for writing prompts in plain language and creating financial models for different types of deals. At least one model must be submitted per week.
The candidate selection process looks like this: first there’s an interview with a chatbot that asks questions based on the resume. Then financial knowledge is checked. Then – the ability to create models. Everything as it should be, only instead of a live recruiter – a bot.
And now the most interesting part. According to Bloomberg, the future AI model with financial knowledge can replace junior bankers. Who spend most of their time on routine work creating financial models for merger and acquisition deals. That is, people are training the system in exactly the work they do themselves.
OpenAI is essentially paying specialists to dig a grave for their own profession. And people agree because $150 per hour is good money. There’s your future of the job market in pure form.
