FrontierFinance: A Long-Horizon Computer-Use Benchmark of Real-World Financial Tasks
Organizations: Kensho Technologies · S&P Global · MIT
Abstract
As concerns surrounding AI-driven labor displacement intensify in knowledge-intensive sectors, existing benchmarks fail to measure performance on tasks that define practical professional expertise. Finance, in particular, has been identified as a domain with high AI exposure risk, yet lacks robust benchmarks to track real-world developments. This gap is compounded by the absence of clear accountability mechanisms in current Large Language Model (LLM) deployments. To address this, we introduce FrontierFinance, a long-horizon benchmark of 25 complex financial modeling tasks across five core finance models, requiring an average of over 18 hours of skilled human labor per task to complete. Developed with financial professionals, the benchmark reflects industry-standard financial modeling workflows and is paired with detailed rubrics for structured evaluation. We engage human experts to define the tasks, create rubrics, grade LLMs, and perform the tasks themselves as human baselines. We demonstrate that our human experts both receive higher scores on average, and are more likely to provide client-ready outputs than current state-of-the-art systems.
Figures & tables
| Benchmark | Total Tasks | # Finance Tasks | Avg. Human Hours (h) | Reference Answer | # Unique Output Formats | Detailed Rubric | Source Docs A | |
| Estimated | Actual | |||||||
| \hyper@natlinkstart vidgen2026apexagentsAPEX–Agents \hyper@natlinkend | 480 | 160 | 1.8 | 1.4 | ✓ | >2 | ✗ | |
| \hyper@natlinkstart patwardhan2025gdpvalevaluatingaimodelGDPval \hyper@natlinkend | 220 B | 150 | 7 | - | ✗ | >2 | ✗ | |
| \hyper@natlinkstart li2026tooldecathlonbenchmarkinglanguageTOOLATHLON \hyper@natlinkend | 108 | 10 | 5 | - | ✗ | 1 | ✗ | ✓ |
| \hyper@natlinkstart feng2026longclibenchpreliminarybenchmarkstudyLongCLI-Bench \hyper@natlinkend | 20 | - | - | >17 | ✓ | 1 | ✗ | ✗ |
| \hyper@natlinkstart wijk2025rebenchevaluatingfrontieraiRE-Bench \hyper@natlinkend | 7 | - | - | 8 C | ✓ | 1 | ✗ | ✗ |
| Finance Model | Difficulty (10) | Estimated Human Hours | Min. # Docs Referenced | # Unique Sources | # Rubric Steps | Deliverables |
| M&A | 7.6 | 12 - 16 | 6 | 1 | 11 | Excel |
| Three-statement | 7.5 | 13 - 16 | 5 | 2 | 5 | Excel |
| LBO | 7.1 | 11 - 15 | 6 | 2 | 9 | Excel, PPT |
| Lender | 6.7 | 10 - 12 | 3 | 2 | 7 | Excel |
| DCF | 6.6 | 8 - 10 | 6 | 4 | 9 | Excel |
| Finance Model Type | Task | Score (%) | Time Taken (h) | ||||
| Human Expert | GPT 5.4 | Opus 4.6 | Human Expert | GPT 5.4 | Opus 4.6 | ||
| M&A | Cisco-Splunk | 77.5 | 69.9 | 72.9 | 20 | 0.73 | 0.63 |
| JnJ-Shockwave | 73.0 | 80.6 | 75.6 | 17 | 0.75 | 0.70 | |
| 3 Statement | Merck & Co. | 67.6 | 73.8 | 36.5 | 35 | 0.80 | 0.51 |
| Rackspace | 77.4 | 49.2 | 67.6 | 35 | 1.01 | 0.81 | |
| LBO | Electronic Arts | 72.2 | 77.1 | 76.1 | 19 | 0.77 | 0.86 |
| Model | Average | Average Tokens | Working | Total | Computer | Cost | |||
| Score (%) | Total | Input | Output | Reasoning | Time (h) | Messages | Use % | ($) | |
| GPT-5.4 | 87.5 | 27.6M | 27.4M | 182k | 89k | 1.0 | 302 | 8% | 14.84 |
| Opus 4.6 | 83.0 | 13.0M | 12.9M | 128k | 3k | 0.7 | 196 | 24% | 16.00 |
| Sonnet 4.6 | 84.0 | 24.9M | 24.7M | 209k | 23k | 1.3 | 274 | 23% | 13.69 |
| Gemini 3.1 Pro | 63.5 | 3.1M | 3.1M | 57k | 14k | 0.3 | 122 | 0% | 2.12 |
Appendix figures & tables5 assets
Supplementary material from the paper’s appendix.
Appendix
| Model | DCF | 3-Stmt | LBO | M&A | Lender | Avg |
| GPT-5.4 | 97.4 | 76.9 | 85.7 | 92.0 | 85.5 | 87.5 |
| Opus 4.6 | 91.7 | 76.2 | 79.6 | 89.4 | 78.1 | 83.0 |
| Sonnet 4.6 | 87.1 | 80.9 | 79.4 | 86.3 | 86.5 | 84.0 |
| Gemini 3.1 Pro | 66.1 | 54.9 | 54.1 | 79.2 | 63.2 | 63.5 |
| Model Name | Provider | Thinking Setting | Hyper-parameters |
| GPT-5.4 | OpenAI | High | Temperature: default |
| Reasoning Effort: XHigh | |||
| Opus 4.6 | Anthropic | High | Temperature: default |
| Reasoning Effort: High | |||
| Context Window: 1e6 | |||
| Sonnet 4.6 | Anthropic | High | Temperature: default |
| Category | Sub-Category | Score | Criteria Description |
|---|---|---|---|
| Pre-Scoring Gating Condition | Correct Filing and Correct Period | PASS | PASS = Proceed to Scoring: Correct filing types used; fiscal year-end correctly identified; No mixed periods or bases |
| FAIL | FAIL = Automatic 0: Wrong filing used; Wrong fiscal period or year; Mixed periods or bases; Fiscal year-end misidentified (Mixing FY with CY) | ||
| Data Retrieval and Fidelity | Source Compliance | 50 | All cited or referenced material comes exclusively from permitted sources (SEC filings and permitted IR website); each reference explicitly identifies the source type and fiscal period |
| 20 | All material appears to come from permitted sources; one reference is imprecisely labeled but the intended source is clear | ||
| 10 | Multiple references are ambiguously labeled, but there is no evidence of non-permitted source usage or hallucinated data | ||
| 5 | One instance of language that implicitly suggests use of non-permitted sources without explicit citation |
Computer-Use Agent Benchmarks
Computer-use agent benchmarks test whether AI systems can operate graphical interfaces, terminals, and applications reliably, safely, and efficiently.
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