I demoed a buzzy AI startup and got a glimpse of what investment bankers' jobs might start to look like

Core Insights - Hebbia is a startup that offers AI-enabled tools aimed at enhancing the efficiency of financial services firms, particularly in investment banking [5][6][24] - The company raised $130 million in a Series B funding round in 2024, indicating strong investor interest and confidence in its technology [2] - Hebbia's tools are designed to streamline tedious tasks, allowing analysts to focus on more strategic aspects of their work [8][24] Company Overview - Founded in 2020, Hebbia has quickly gained traction, acquiring notable clients such as KKR, T. Rowe Price, and Permira [5] - The company emphasizes that many institutions may prefer to purchase access to its tools rather than develop similar capabilities in-house, which can be costly [3][2] Product Features - Hebbia's platform includes a "Matrix" interface that allows users to query large datasets and generate insights efficiently [9][10] - The system can analyze multiple companies' activities simultaneously, providing a comprehensive view of relevant information [11][19] - Features like automated memo and presentation creation significantly reduce the time spent on document preparation [13][14][24] Market Position - Approximately 60% of Hebbia's users are from the buy side, with the remainder comprising banks, law firms, and insurers [22] - The startup's tools are seen as a competitive advantage, with clients considering their custom prompts as proprietary intellectual property [20][21] Future Outlook - The emergence of "agentic AI" tools, which can execute complex tasks autonomously, represents the next phase of AI development in finance [23] - The increasing integration of AI in investment banking raises questions about the readiness of educational institutions and analyst programs to adapt to these changes [26][27]