Project name: Deep Research
What it is: A generative-AI tool to answer complex research questions and automate the bulk of junior analysts’ work
Lead executive: Chen Fang, data and analytics lead on Balyasny’s Applied AI team
Balyasny Asset Management is a step closer to its goal of building an AI equivalent of an analyst thanks to a new tool called Deep Research.
Built by the hedge fund’s Applied AI team, Deep Research helps analysts and portfolio managers answer complex research questions. The tool pulls in info from about 5 million documents, like regulatory filings, earnings transcripts, third-party research and market data, and Balyasny’s internal analyses and memos. Mostly used by investment teams, Deep Research helps analysts and PMs research stocks before making a trade and gauge the impact of global market events on a portfolio or set of stocks.
It’s in beta and being tested across roughly 50 teams. Those teams send their questions to the Applied AI team, which passes them on to the bot. The goal is to release the tool firmwide by the fourth quarter, with every team accessing the tool directly.
Fang said the firm wanted to automate tasks for analysts to “reduce their research process from days and weeks to minutes and hours.”
In one recent example, a PM asked Deep Research to find companies whose supply chains were affected by tariffs. The tool scanned more than 20,000 documents to identify 120 companies and provide a report with explanations for each company — all in about an hour.
Going forward, Fang said the team aims to offer PMs more actionable insights and trade ideas that go beyond summarizing and linking back to documents.