Lazard responded to the hype surrounding AI by asking its employees to pitch ideas on how it could take advantage of the technology. A year later, chief executive Peter Orszag outlined how he was putting it at the heart of the investment bank’s strategy.

“It’s moving so fast that use cases that were a fail three months ago… you can see already working today because of the ongoing evolution of the technology,” Orszag told journalists during its third-quarter results call.