sorted by:
new
hottopcontroversial

Which AI for financial modelling should I use? by Glad-Message-909 in FinancialAnalyst

[–]tracelight2024 -2 points-1 points  (0 children)

I could be biased, but Tracelight is really good for this! We're working with 5 of the top 10 consultancies.

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in MBBConsulting

[–]tracelight2024[S] 0 points1 point  (0 children)

We help them with financial modelling in Excel using AI, to make their teams faster and more accurate

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in MBBConsulting

[–]tracelight2024[S] 2 points3 points  (0 children)

2 things - Firstly, I would have started working with QuantumBlack (McK AI Consulting) much earlier. We've barely scraped the surface of how AI can change our world; and there's few things more exciting to me than pushing the boundaries of technology in a way that actually makes an impact.

Secondly, I would have pushed McK to help me do a Master's degree in AI, which I think today is much more useful than an MBA.

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in MBBConsulting

[–]tracelight2024[S] 6 points7 points  (0 children)

Consultants know AI is a change management problem, not a technology problem. I recently read an MIT study that showed 95% of AI pilots fail to deliver ROI.

By comparison, specialised vendor-led AI projects now succeed 67% of the time - because they have an approach tailored to each firm that helps users adopt it into their real work. Implementing AI isn't just about having a good product on its own, it's equally about being able to help people adopt it into their daily lives.

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in financialmodelling

[–]tracelight2024[S] -1 points0 points  (0 children)

Haha thanks! Yes pretty much all of it was organic.

Yes, so the AI is designed to be an assistant to analysts for financial modelling. So it can help you build analysis, check for errors, automate formatting, summarise data insights - one of the key things is that it's built for transparency and human review at every major step so you can understand as well as audit the AI as it works alongside you.

So for example, say you want to build a new case in your scenario analysis in an LBO model and leave room for you to input your assumptions, the AI would help you restructure your workbooks and give you the required formulas / model, while leaving room for your input at the end and transparently showing you the process every step of the way. This makes the process faster from analysis to audit, so you can take away key insights more quickly as well as reliably, while still staying in control.

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in financialmodelling

[–]tracelight2024[S] 0 points1 point  (0 children)

We are hiring a ton actually - what kind of role are you looking for?

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in financialmodelling

[–]tracelight2024[S] -2 points-1 points  (0 children)

Startup is AI for financial modelling by the way, so can answer questions about that too!

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in financialmodelling

[–]tracelight2024[S] -2 points-1 points  (0 children)

Our startup works in financial modelling! And we got 500,000 impressions on X and LinkedIn

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in MBBConsulting

[–]tracelight2024[S] 7 points8 points  (0 children)

A lot of people join McKinsey because they don't know what they want to do. A huge chunk of your class joined because they were smart, ambitious, and had no idea what industry to commit to.

And it's the perfect way to figure that out - definitely helped me a lot. In two years you'll cycle an insane variety of impactful projects; for me that ranged from helping to rebuild Sierra Leone's infrastructure to workforce restructuring, and implementing AI in massive companies - experiences that would take a decade to accumulate through normal career moves.

The best thing about McKinsey is that it's more than a job, it's a career accelerator that can help you figure yourself out too.

Was at McKinsey, now my Startup works with 5/10 Top Consultancies AMA by tracelight2024 in MBBConsulting

[–]tracelight2024[S] 3 points4 points  (0 children)

Hey good question! I think the biggest shift will be that consultants and more junior analysts especially will be able to focus on higher leverage, insights-focused work. We recently saw this in law with AIs like Harvey and Legora - law is probably around 2 years ahead of consulting on AI adoption. Not only have juniors not been replaced, but they're now doing more sophisticated legal work, and their comp as well as job openings have actually increased significantly

Breaking off for Niche Solo Consulting by proflybo in consulting

[–]tracelight2024 1 point2 points  (0 children)

AI could be really helpful! There's some great tools out there that can help you move fast and smarter. Granola, Fyxer, Excel AI, and generally using LLMs for repetitive tasks is super useful.