Anthropic is rolling out AI agents for finance that promise to do the grunt work of Wall Street — from preparing for client meetings to conducting market research.
The announcement on Tuesday comes as startups and banks themselves are building similar tools to automate much of Wall Street’s most tedious work, further enmeshing the company behind Claude in an already competitive space.
The 10 new agents include a “model builder,” which can create financial models from filings and analyst notes, and a “pitch builder,” which can draft pitchbooks ahead of client meetings, the company said in a post on its website. Financial services is Anthropic’s second-largest industry by enterprise revenue, after tech, according to a presentation the firm made Tuesday. To date, 40% of the company’s top 50 customers are in finance, the slide said.
The biggest firms on Wall Street are increasingly adopting AI tools to reduce the time everyone, from junior bankers to software engineers, spends on their work. Major banks, including JPMorgan, Goldman Sachs, and Morgan Stanley, have rolled out internal AI assistants to large swaths of their workforces. These tools are designed to help employees summarize internal research, draft emails and reports, write code, and prepare for client meetings.
Wall Street’s AI race is already crowded
Several startups have also emerged as key players in the AI finance scene. Rogo, valued at $2 billion and founded by former investment bankers, serves more than 250 clients. Its tools can draft pitch decks, conduct research, prepare for meetings, and build models.
Rahul Rekhi, president of Rogo, said he’s not too concerned about rising competition, partly because Rogo’s tools are model-agnostic and backed by finance domain expertise.
“We’re taking the best of what the foundation model labs have to offer, routing that for specific kinds of workflows, whether it’s building a model, building a pitch book, doing research, et cetera,” he told Business Insider on Tuesday. “So the better the models get across a range of workflows, the more we can do in terms of accelerating and automating the work of these investment firms and banks.”
Hebbia, another startup providing a suite of AI tools to financiers and lawyers, has built platforms that run multiple simultaneous queries across datasets, like spreadsheets and filings, to generate side-by-side company comparisons and draft documents that would take hours or days to produce by hand.
“For banks and the startup ecosystem, we expect consolidation around a smaller set of core model providers, with differentiation shifting to domain-specific data, workflow design, and the control layer,” Scott Keipper, the financial services technology consulting leader at EY Americas, told Business Insider in an email on Tuesday. Products that can be easily integrated “into existing systems of record” and work inside existing governance and risk architecture will be most successful, he said.
Advancements in generative AI are also causing anxiety among some about headcounts at Wall Street banks. The biggest banks haven’t announced mass AI-related layoffs, though some CEOs have said they’re slowing hiring. JPMorgan CEO Jamie Dimon said his bank has “huge redeployment plans” for those displaced by AI, and repeated the sentiment at Tuesday’s event with Anthropic CEO Dario Amodei.
Here are Anthropic’s 10 new agents for employees in the finance world, according to its press release:
- Pitch builder
- Meeting preparer
- Earnings reviewer
- Model builder
- Market researcher
- Valuation reviewer
- General ledger reconciler
- Month-end closer
- Statement auditor
- KYC screener
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