从ECM到交易 AI将如何重塑投行四大业务？

Core Insights - The article discusses the transformative impact of AI on investment banking, predicting that by 2030, AI will change 33% of work processes in the industry, affecting various roles differently [1]. Mergers & Acquisitions - Core responsibilities of bankers will focus on risk assessment, providing critical background information, and leading due diligence, especially in complex areas where human judgment is essential [1]. - AI will continuously scan public and private data, identifying strategic acquisition targets [2]. - AI will identify operational, market, and geopolitical risks, providing summarized insights to trading teams [3]. - Expected transformation degree by 2030: 30% [4]. Equity Underwriting - Lead bankers will still oversee book management in real-time, negotiate with key investors, and manage the narrative direction of corporate stories [4]. - AI tools will track investor orders, test stock allocation scenarios, and adjust pricing in real-time during transactions [5]. - AI will conduct scenario analysis based on market trends and potential investor reactions before transaction initiation [6]. - Expected transformation degree by 2030: 32% [7]. Debt Underwriting - Bankers will assess the optimal timing for bond issuance, collaborating with legal advisors to ensure compliance with legal standards and regulatory requirements [7]. - AI will monitor interest rate curves and investor trends, providing recommendations for timing and structure design [8]. - Generative AI will draft issuance documents and terms based on internal data and compliance requirements [8]. - Expected transformation degree by 2030: 34% [9]. Sales & Trading - Traders will leverage AI to conduct larger trades and increase intervention during market disruptions, while still managing inventory and client relationships [9]. - AI systems will provide real-time trading execution suggestions based on liquidity and market analysis [10]. - During market volatility, pricing engines will dynamically adjust bid-ask spreads within set risk parameters [10]. - Expected transformation degree by 2030: 32% [10].