Why Finance Needs an AI Modeling Assistant Like Coders Have
Financial modeling in Excel could benefit from specialized AI assistants similar to coding tools, transforming productivity for analysts and bankers.
Financial modeling, much like coding, involves complex spreadsheet structures, interconnected tabs, and specialized domain knowledge. While AI-powered coding assistants like Cursor and Claude Code have revolutionized software development, finance professionals still lack a comparable tool for Excel-based modeling.
The Demand Across Finance
Valuation analysts, investment bankers, and auditors routinely build intricate models—Discounted Cash Flow (DCF), Option Pricing, and more—in Excel. Current general-purpose AI tools, such as Excel Copilot, fall short in generating accurate financial models. A specialized AI financial modeling agent could streamline workflows across accounting firms, investment banks, and consulting firms.
Building the Solution
No dedicated AI financial modeling tool exists yet. Two potential approaches:
- Excel Add-in: A web application integrating with Excel, similar to how Claude Code works in VS Code.
- AI-Native Spreadsheet: A unified platform combining traditional spreadsheets with AI capabilities, like Cursor for coding.
Unlike coding files (e.g., .py), Excel files (.xlsx) include a visualization layer, requiring the AI to generate and execute code in real-time. Tools like Microsoft Script Lab (which interacts with Excel via APIs) offer a starting point.
Proof of Concept: DCF Model with Claude and Script Lab
The author tested this by:
- Prompting Claude to generate a mini DCF model.
- Transferring the resulting TypeScript/HTML code into Script Lab.
- Executing the code to auto-generate a DCF template in Excel.
While debugging took longer than manual modeling, the experiment highlights AI’s potential. With iterative training, an AI agent could handle multi-tab models efficiently—acting like a 24/7 self-training junior analyst.
The Future of AI in Finance
Just as engineers rely on AI coding assistants, finance professionals need a dedicated AI modeling agent. Such a tool could:
- Accelerate model creation
- Reduce errors
- Enhance collaboration
The opportunity is clear: an AI-native financial modeling assistant could become as indispensable as Excel itself.
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About the Author
David Chen
AI Startup Analyst
Senior analyst focusing on AI startup ecosystem with 11 years of venture capital and startup analysis experience. Former member of Sequoia Capital AI investment team, now independent analyst writing AI startup and investment analysis articles for Forbes, Harvard Business Review and other publications.