OpenAI Hires 100 Ex-Bankers at $150/Hour to Train an AI to Replace Wall Street Analysts
OpenAI has hired over 100 former Wall Street bankers to train its AI on building complex financial models, paying them about $150 an hour under the secretive “Project Mercury.” The initiative aims to automate tasks done by junior analysts, raising job security concerns among entry-level bankers. OpenAI’s $500 billion valuation and major chip deals have boosted tech stocks. Experts predict AI could eliminate up to half of entry-level office jobs within five years.