Tech startup Rogo raised $50 million to develop an artificial intelligence-powered Wall Street analyst.
The funding will be used to enhance investment in financial reasoning models and autonomous AI agents, aiming to achieve the standard set by Wall Street's top analysts.
Rogo's AI technology has shown promising results, with clients like Nomura praising its ability to analyze market data quickly and accurately, allowing bankers to focus more on client relationships.
Rogo's founder believes that AI adoption in banks will lead to increased deal wins, higher revenues, and the need for more skilled bankers, emphasizing the importance of training junior bankers to rise to senior positions.