What Analysts Actually Do With AI Tools | Cutting-Edge with Perplexity

If you've ever been assigned a research task like finding the long-term TAM for RoboTaxis, and were told, “Let’s discuss tomorrow,”? Here is your playbook for where to start using AI.

In this live episode of Cutting Edge, Brett Caughran, Founder and Lead Trainer of Fundamental Edge, walks through how an institutional analyst would approach a 24-hour sniff test, using an AI tool like Perplexity to accelerate the research process without taking shortcuts. Joined by Brooker Belcourt (former Citadel, now GM Finance Vertical at Perplexity), the session highlights both the potential and practical realities of using AI in a buy-side workflow.

Whether you're building your first process or mentoring a team of analysts, this conversation models how to:

Move from a vague prompt to a credible investment hypothesis fast
Size a TAM without falling into the trap of flashy but flimsy sources
Use Perplexity to gather, organize, and interrogate data in real-time
Pressure test company positioning in a capital-intensive theme
Understand how value may accrue: software, OEMs, or distribution?

For a junior analyst: Watch how Brett translates ambiguity into structure.
For an aspiring PM: Learn how to move faster without losing the structure that builds long-term edge.
For a talent lead: See what it looks like when training meets real-world pressure.

This isn’t a polished product demo; it’s a real-world look at what it takes to form institutional-quality ideas, even when the tools (and timelines) are still catching up.