In Episode 5 of The ModSquad on Financial Modeler’s Corner, Paul Barnhurst, Ian Schnoor, and Giles Male take a hard look at the changing landscape of financial modeling in the wake of Microsoft’s release of Excel Agent. Since launching at the end of September to coincide with Excel’s 40th birthday, Excel Agent has quickly changed the competitive dynamics for AI-powered modeling tools. The team explores the implications: how Excel Agent’s capabilities compare to other tools, why third-party platforms are shutting down, and what all this means for the future of work in modeling-heavy industries like investment banking.

Expect to Learn

• Why Excel Agent is pushing competing modeling tools like Rosie AI out of the market.
• What makes Excel Agent a “magnifier” of both modeling skill and error.
• How fast AI is evolving inside Excel and what that means for modelers today.
• Why AI won’t reduce hours in finance, despite speeding up modeling work.
• What OpenAI’s Project Mercury reveals about the next phase of automation in investment banking.

Here are a few quotes from the episode:

• “You can't hit a prompt, go get a coffee, and expect a working model.” – Giles Male
• “If you don’t understand what the AI just built, you’re in trouble.” – Ian Schnoor

This episode makes it clear: AI is not a replacement for skill; it’s a multiplier. Excel Agent may be setting the new standard, but success still comes down to human understanding, judgment, and accountability. As the modeling world evolves rapidly, professionals who stay informed and upskill will thrive. The Mod Squad isn’t slowing down either; more tool reviews and sharp conversations are coming.

Follow Ian Schnoor:

LinkedIn -  https://www.linkedin.com/in/ianschnoor/

Follow Giles Male:

LinkedIn -  https://www.linkedin.com/in/giles-male-30643b15/

In today’s episode:

[05:29] - AI Tools Recap

[07:26] - AI Hype and Hidden Risks

[10:23] - AI as a Skill Magnifier

[13:48] - Microsoft’s Impact on AI Startups

[16:15] - Rapid Evolution of Excel AI

[21:29] - OpenAI’s Role in Financial Modeling

[29:17] - Understanding Assumptions and Calculations

[31:53] - Final Thought