AI Functionally
Is anyone using AI (like ChatGPT) or anything for their day to day? Does anyone know if the functionality is there to do things like summarize third party reports or analyze docs like JV agreements?
Is anyone using AI (like ChatGPT) or anything for their day to day? Does anyone know if the functionality is there to do things like summarize third party reports or analyze docs like JV agreements?
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Based on the WSO Dataset, while there isn't a specific mention of using AI tools like ChatGPT for summarizing third-party reports or analyzing documents such as JV agreements in the finance sector, there is a general trend towards integrating technology to streamline processes. For instance, there are mentions of tools for managing documents and tracking deal progress, which suggests a receptiveness in the industry to using advanced tech solutions. However, for AI applications in summarizing and analyzing specific financial documents, it would typically depend on the sophistication of the AI tool and its training data. In general, AI tools can be very effective in handling large volumes of data and providing summaries, but their accuracy and reliability would need to be vetted for specific tasks like legal document analysis.
Sources: What kind of tools / apps do you wish existed in the industry?, Open Source Argus, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, Training Juniors, Intro to M&A deal docs
From my experience with the free version of ChatGPT, it often finds large data or text to be too long to dissect. If you paste in little by little, it does create a nice summary. But also following to see if anybody has any other thoughts on ChatGPT 4 version or any others for analyzing larger documents / data inputs.
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