Generative AI on Wall Street — Opportunities and Risk Controls

arXiv:2509.05841v2 Announce Type: replace-cross Abstract: We give an overview on the emerging applications of GenAI in the financial industry, especially within investment banks. Inherent to these exciting opportunities is a new realm of risks that must be managed properly. By heeding both the Yin and Yang sides of GenAI, we can accelerate its organic growth while safeguarding the entire financial industry during this nascent era of AI.