Perplexity Labs Can Draft 98% of IPO Prospectus, Says CEO
- Staff Correspondent
- Jun 10
- 3 min read
Earlier this year Goldman Sachs CEO David Solomon revealed that artificial intelligence is now capable of generating 95% of the paperwork needed for a company to go public. What once took a team of six people nearly two weeks can now be done by AI in just a few minutes, he said while speaking at a Cisco event. “The last 5% now matters because the rest is a commodity,” Solomon added.

But the conversation has quickly moved forward after Aravind Srinivas, CEO of AI startup Perplexity, chimed in to say his firm’s tool—Perplexity Labs—is already delivering 98–99% accuracy in these tasks.
Perplexity Labs, which was founded in May, is characterized as a "24x7 dedicated answering machine" that can, for the most part on its own, create spreadsheets, dashboards, code samples, and even web applications, not just answer questions.
This quick shift isn't only about paperwork; it's a piece of a larger puzzle that's generating increasing anxiety throughout several sectors.
AI Is No Longer the Future—It’s the Present
The complicated process of becoming public (IPO) has been a milestone for decades, requiring lengthy paperwork in the legal, financial, and regulatory fields. However, many individuals are wondering about the need for jobs that require human effort due to AI's ability to write at scale.
What Perplexity Labs does is referred to as "self-supervised work," which means that it does not require continuous human supervision. The information may be presented in a variety of formats, from a Word document to a tiny dashboard. Data can be extracted from the deep web, code can be run, and visual charts can be created. Red flags and eyebrows are raised by this degree of autonomy.
This is because, although tools like this help save time and money, they also send a clear signal that AI is about to take over the desk positions.
The Silent Job Shift Is Underway
The worry is not theoretical. Dario Amodei, the CEO of Anthropic, which is one of the top AI companies in the world, has publicly predicted significant white-collar job losses in the next five years.

Finance, law, consulting, and technology are examples of sectors where entry-level employees are particularly vulnerable. The manner in which AI development is being presented was criticized by Amodei, who claimed that tech firms and governments are "sugar-coating" the actual impact on the real world.
“Mass layoffs" might sound extreme, but they are already happening- it’s just that they are not always in the news. Hundreds of firms in various industries are now discreetly employing AI agents to lower employee costs. These tools can replicate human workflow, produce thorough documentation, create code, and even analyze financial data- frequently at a fraction of the time and expense.
The Increasing Conflict Between Jobs and Efficiency

It's difficult to ignore the trade-off. A generation of workers is experiencing increased uncertainty while businesses increase speed and cut operational expenses. It's not just a dystopian fear that a person's first job after graduation may fall victim to automation- it's becoming a legitimate economic concern.
However, if managed properly, this change also offers an opportunity. According to some experts, if AI takes over the "grunt work," it could free up people for more strategic, creative, and meaningful jobs.
To Sum up
Although David Solomon's statement was noteworthy for its extreme audacity, it also reveals a more fundamental reality: AI is no longer simply a tool for boosting productivity behind the scenes. It is now in the forefront, influencing who does what and how they do it.
Perplexity Labs is merely the first step. With each new product release, AI edges closer to roles traditionally considered safe. It won't completely replace humans, but it will undoubtedly alter what it means to be a human at work.
If 95% of something turns into a commodity, then perhaps the remaining 5%—our judgment, creativity, and decision-making—will become more valuable than ever before, as Solomon once said.
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