OpenAI developed the product with major investment banks Morgan Stanley and Evercore, whose feedback helped shape its initial focus on investment banking and equity research.

OpenAI launched ChatGPT for Financial Services, targeting the labor-intensive research, modeling, and pitchbook tasks traditionally handled by junior bankers.

The product will compete with a similar offering from Anthropic, but OpenAI says it's version is 'the one product' big banks will ever need.

The product, ChatGPT for Financial Services, was developed with Morgan Stanley and Evercore as design partners to help shape the offering, OpenAI said in a blog post.