I. Introduction 1

II. Generative AI: Technology shock to firms 3
A. Measuring Generative AI exposure 3
B. Generative AI exposure across professions 5
C. Effects of Generative AI on firms 6
D. Directions for Future Work 11

III. Generative AI: Technology shock to research 12
A. Embeddings 13
B. Text classification 16
　B.1. Retrieval-augmented generation 19
C. Simulation of agent behavior and expectations 21
D. Hypothesis generation 23
E. Teaching finance with Generative AI 24
F. Practical considerations for using Generative AI in research 25
　F.1. Obtaining numerical scores from LLMs 25
　F.2. Explanation and evaluation of LLM reasoning 28
　F.3. Implementing retrieval-augmented generation 28

IV. Conclusion 30

REFERENCES 31