Sequoia Capital invests in AI tool that could replace junior bankers

BLOOMBERG

Young bankers often work upwards of 80 hours a week building PowerPoints and detailed models ahead of mergers and leveraged buyouts.

Rogo says its software shortens that process. It uses AI to create slide decks — a core part of an investment banker’s workflow — as well as helping draft initial public offering documents and the financial models that underpin deals.

“It’s no secret that AI’s gone mainstream in Wall Street, and the firms that are able to use AI to augment their junior professionals — make them more productive — are going to have a huge advantage over the firms that can’t,” Stengel said in an interview earlier this year.

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