OpenAI Launches Finance-Focused 'Astra,' Directly Targeting Wall Street After Anthropic [Global AI Briefing]

[Financial News] OpenAI has entered the financial market in earnest by launching an artificial intelligence (AI) product tailored to financial institutions. With Anthropic having introduced a finance-specific solution last year and OpenAI now joining the race, Wall Street is drawing attention as a specialized market for AI companies.
On the 10th local time, OpenAI officially announced ChatGPT for Financial Services. Built on the reasoning capabilities of its latest model, GPT-6 Astra, the product provides financial data by default and supports financial research, financial modeling, and the creation of client materials.
OpenAI said Morgan Stanley and Evercore participated directly as design partners from the development stage of ChatGPT for Financial Services. According to OpenAI, experts at major Wall Street financial firms identified challenges they faced in investment banking and equity research and reflected them in the product's features.

OpenAI also emphasized that financial data from Daloopa, PitchBook, London Stock Exchange Group (LSEG) News, and Crunchbase is built into the product by default. This allows financial institutions using ChatGPT for Financial Services to access corporate earnings, financial statements, basic company information, and data on private companies without having to establish separate connections.
OpenAI clearly identified investment banking and equity research as its initial target areas.
Junior analysts and associates on Wall Street handle tasks such as researching companies for deal reviews, organizing financial data, and preparing pitch books. ChatGPT for Financial Services could reduce their workload.
Nick Turley, OpenAI's vice president of product, emphasized at a briefing, "We are training ChatGPT for Financial Services to conduct research like an analyst and support its conclusions with evidence like an analyst."
Efforts by global AI companies to target the financial industry gained momentum in May, when Anthropic launched 10 agents aimed at financial analysis and research, as well as the automation of financial tasks.
Experts say the financial industry could become a key target market for AI companies because it handles vast amounts of data while involving many tasks, such as research, analysis, and modeling, where AI can excel. The industry also handles customer information and material nonpublic information, creating high demands for security and accuracy.
With OpenAI now directly targeting the financial industry after Anthropic, the two major forces in the global AI market appear to be shifting their competitive strategy from general-purpose tools toward industry-specific work infrastructure.
[email protected] Lee Gu-soon Reporter