Chris Pulman used to spend two days prepping previews for central bank meetings. Now it can take the chief economist for macro at Balyasny Asset Management as little as 30 minutes.
Thanks to the new amped-up generation of artificial intelligence, chatbots are now carrying out his time-consuming research chores. Everything from summing up the views of Wall Street economists and generating charts to extracting the latest pronouncements from monetary officials, and more. With Pulman’s input, the AI program then plugs all that market wisdom into a template to showcase his interest-rate call.
“We found they’re actually substantially more powerful than you think at first,” said the Balyasny economist, referring to large language models. “But they don’t work straight out of the box.”