Wall Street financial types who hoped that AI would soon take over the tedious job of sifting through page after page of earnings reports might have to wait a little longer. It turns out AI models from some of the most prominent tech companies, including OpenAI, Meta, and Anthropic, are exceptionally bad at analyzing SEC filings and other financial documents.
The poor results mean that many tasks in the financial services industry that require lots of math and research will still have to be done by humans. Although financial companies have started to explore AI tools in recent months, research from startup Patronus AI published in November demonstrates they may still be unable to perform more complex tasks without human oversight.
