08.14.23

ChatGPT Brings Big Data Center Stage for Managers

by: Douglas Appell

Money managers say last November’s launch of generative artificial intelligence bot ChatGPT was a game changer, though they caution it could take years to figure out how the rules of the game are likely to change. For now, asset managers and asset owners alike continue to hammer out the best ways of integrating data science insights into their broader investment organizations. ChatGPT has given anyone with a smart phone the power to read through hundreds of earnings calls and summarize scores of analysts’ reports in the space of a few minutes. For example, the sixnhours it might have taken for an insurance company to write up a report on a property it was evaluating could be translated to six or seven minutes — a boost in efficiency with broad implications for the world of investing, according to Lou D’Ambrosio, a partner with Goldman Sachs Asset Management and head of the GSAM Value Accelerator team working with the firm’s private equity portfolio companies to bolster their businesses. It will "change the very being of the way organizations work — the way we invest, the types of investments we have, how we work with our companies for differentiation," he said.

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