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

In this episode of The ModSquad on Financial Modeler's Corner, Paul Barnhurst, Ian Schnoor, and Giles Male explore Microsoft’s newly released Excel Agent, a beta tool designed to bring AI into Excel Online. The team compares its performance to Rosie AI, running both through a range of tasks, including formula building, audit reviews, and a full five-year model forecast. Along the way, they test the tools against real modeling challenges like the Excel Esports case and a creative custom case, "The Humble MVP." This isn’t just about flashy tech. It’s a deeper conversation on where AI can help, where it falls short, and why core financial modeling skills still matter.

Expect to Learn

• What happened when Excel Agent tried to build a full five-year forecast model.
• Why solid modeling skills still beat "one-click" AI hype.
• Where AI tools succeed, and fail, in reviewing formulas and detecting issues.
• Why you should never fully trust AI without understanding what it’s doing.

Here are a few quotes from the episode:

• “Building a model is like flying a plane; you don’t want a rookie in charge when something breaks.” - Ian Schnoor
• “You can’t hit a prompt, go get a coffee, and expect a working model.” - Giles Male

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:

[02:21] - What is an Excel Agent and why does it matter?

[05:37] - Sharpen Your Modeling Skills

[06:51] - Modeling Requires Human Judgment

[09:27] - Esports Case: Rosie AI vs Excel Agent Test

[19:39] - Excel Agent Hangs in Beta Mode

[25:26] - Testing PVM in the Smoothie Business Case

[30:01] - Ian Takes Over: Testing Excel Agent on AFM Model

[44:11] - Building a five-year forecast model from scratch

[55:19] - Adding a revolver to the model

[01:00:12] - Why the balance sheet doesn’t balance

[01:03:46] - Final thoughts and takeaways

Note: This episode was recorded and scheduled for release before the recent announcement that Rosie AI is shutting down.

In this episode of the ModSquad series on Financial Modeler’s Corner, host Paul Barnhurst is joined by modeling experts Ian Schnoor and Giles Male to evaluate Rosie AI, a new tool that integrates with both Excel and Google Sheets. Together, they test its capabilities in building financial models, solving complex FP&A tasks, and performing real-world use cases. They push Rosie through a series of tests, from basic formula creation to building full three-statement models, and discuss where it excels, where it needs improvement, and its potential future in the world of financial modeling.

Expect to Learn

• How Rosie AI performs in real-world financial modeling tasks
• The strengths and weaknesses of Rosie in building models and formulas
• Key insights into how AI tools are evolving in financial modeling
• The importance of knowing how to validate AI-generated models
• How Rosie compares with other AI tools and traditional financial modeling techniques

Here are a few quotes from the episode:

• “AI can’t replace the need for modelers to understand the logic, but it can help speed up certain tasks.” - Giles Male
• “If you know what you’re doing, these tools can save you time. If you don’t, you need to double-check everything.” - Ian Schnoor

Follow Ian Schnoor:

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

Follow Giles Male:

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

Rosie AI: https://www.askrosie.ai/

In today’s episode:

[02:23] - Excel Turns 40

[07:29] - Microsoft’s AI Agent vs. Modeling Tools

[16:18] - Exploring Rosie’s Website and Features

[25:35] - Real-World FP&A Test: Trial Balance Summary

[35:53] - Deferred Revenue Schedule Test

[50:54] - Detecting Inconsistent Formulas in Financial Models

[01:00:53] - Testing Rosie AI on a Five-Year Forecast Model Build

[01:08:31] - Final Thoughts: Where AI Helps and Where It Doesn’t