Source: The Patriot Light | AWK Network | VIEW ORIGINAL POST ==>
New York-based AI startup Mosaic is trying to create a new kind of Wall Street: one with humane hours, where all-nighters no longer need to exist.
Mosaic has created software that does the grunt work of building financial models — a laborious task with complicated calculations that, for eons, has been done by a junior banker. Now, they can just enter key numbers and the software does the heavy lifting of making financial projections and forecasting a company’s future.
“The only way to really reduce the actual work is through technology,” Mosaic founder and CEO Ian Gutwinski told NYNext. “Our technology takes more than 14 hours of work… and squishes it down into 15 minutes.”
But Gutwinksi, 35, is quick to reject the idea that this paves the way for eliminating human jobs. He believes the software this will increase worker productivity and satisfaction — and the overall volume of deals bankers can complete.
“What we do is automate the lower value-added stuff. A portion of the time that you’re…
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