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Claude for Financial Services

anthropic.com

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Re: Claude for Financial Services

#81

Post by blitzar »

mildlyhostileux wrote: post #2

Anthropic just dropped “Claude for Financial Services” -New models scoring higher on finance specific tasks -MCP connectors for popular datasets/datastores including FactSet, PitchBook, S&P Global, Snowflake, Databricks, Box, Daloopa, etc This looks a lot like what Claude Code did for coding: better models, good integrations, etc. But finance isn’t pure text, the day‑to‑day medium is still Excel and PowerPoint.Curiou…

LLMs speak programmer well - they don't speak finance that well. To get much useable retraining or super agressive context / prompting (with teaching of finance principles) is needed otherwise the output is very inconsistent.

Re: Claude for Financial Services

#82

Post by blitzar »

asdev wrote: post #23

Why is Anthropic focusing on vertical solutions? Shouldn't they just be trying to be the best horizontal platform everyone builds on top of?

The 30/50/100gb of random numbers that is a trained LLM is basically worthless - if it has any value at all on day 1, that value depreciates at multiple percentage points per day.

Anthropic more than OpenAi are going for the integrations, verticals and MCP - I think that is the right play. "OpenAi Inside" can replace the "Intel Inside" sticker but their marketcap needs to go 1/100x

Re: Claude for Financial Services

#83

Post by dlenski »

blitzar wrote: post #78
sorcerer-mar wrote: post #45

Earlier quoted context omitted.

Sure. I'm not saying it's a good idea. It was a glaring omission from the provided list.

It is an excellent idea - the first useful LLM most in finance have / will interact with is to throw the 1000's of daily reports into a vector database and query against that. "Whats the consensus in todays research about AAPL?" Out comes a distilled report with clickable links back to the ai slop Goldmans et al sent out this morning.

> a distilled report with clickable links back to the ai slop Goldmans et al sent out this morning.

A summary with links back to AI slop is a _useful_ outcome? Why?

Re: Claude for Financial Services

#84

Post by blitzar »

dlenski wrote: post #83
blitzar wrote: post #78

Earlier quoted context omitted.

It is an excellent idea - the first useful LLM most in finance have / will interact with is to throw the 1000's of daily reports into a vector database and query against that. "Whats the consensus in todays research about AAPL?" Out comes a distilled report with clickable links back to the ai slop Goldmans et al sent out this morning.

> a distilled report with clickable links back to the ai slop Goldmans et al sent out this morning. A summary with links back to AI slop is a _useful_ outcome? Why?

> Ai slop summary with links back to AI slop is a _useful_ outcome? Why?

Saves the junior from coming in at 4am to spend 3 hours doing it. They can spend more time fixing the slide deck.

Re: Claude for Financial Services

#85

Post by v5v3 »

georgeecollins wrote: post #65
jasonthorsness wrote: post #7

I think their vending machine project might need to succeed before you should trust Claude for investment advice: https://www.anthropic.com/research/project-vend-1 Fun aside, finance and code can both depend critically on small details. Does finance have the same checks (linting, compiling, tests) that can catch problems in AI-generated code? I know Snowflake takes great pains to show whether queries generating repor…

I disagree. Claude may fail at running a vending machine business but I have used it to read 10k reports and found it to be really good. There is a wealth of information in public filings that is legally required to be accurate but is often obfuscated in footnotes. I had an accounting professor that used to say the secret was reading (and understanding) the footnotes. That’s a huge pain in the neck if you want to com…

> I had an accounting professor that used to say the secret was reading (and understanding) the footnotes.

He must have passed this secret knowledge on, as they all say it now...

Re: Claude for Financial Services

#86

Post by v5v3 »

MuffinFlavored wrote: post #28
hbcondo714 wrote: post #17

FWIW, OpenAI has an offering called “Solutions for financial services”: https://openai.com/solutions/financial-services/

Why are both AI giants choosing to pay attention specifically to this space out of all other spaces they could choose to focus on?

More revenue to be made than other industries?

Salaries are higher in Finance than other industries for the same job, as it is well known.

But also, budgets for everything else is also higher.

These companies will sign 3 year deals for support, have you onsite implementing and training + app and API subscriptions.

Re: Claude for Financial Services

#87

Post by v5v3 »

mensetmanusman wrote: post #50
MuffinFlavored wrote: post #28

Earlier quoted context omitted.

Why are both AI giants choosing to pay attention specifically to this space out of all other spaces they could choose to focus on?

If all the hedge funds think their workers will have an edge if they are llm powered cybernetics, it will be an amazingly profitable arms race for the AI firms.

Hedge funds are often small companies. And will have tech wizz kids aplenty.

The title is 'Financial Services' which is a broader sector.

Re: Claude for Financial Services

#89

Post by OldfieldFund »

bix6 wrote: post #61
MuffinFlavored wrote: post #28

Earlier quoted context omitted.

Why are both AI giants choosing to pay attention specifically to this space out of all other spaces they could choose to focus on?

It’s a $37B+ opportunity. 325k financial analysts * $113k / year. Much of the work is repetitive or formulaic or error prone. Plus it’s all digital. https://www.bls.gov/oes/2023/may/oes132051.htm

I need a product like this(currently using a limited in-house version), but I'm not paying $125k/year/seat to get locked into a black box ecosystem that might change or get shut down in a year.

We are using LLMs to analyze corporate filings/voice memos in real time to find anomalies/correlations. This works and was previously impossible. We also use LLMs for other financial stuff. And, no, LLMs don't make financial decisions, they only point us to check X.

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