Module 2: Exploring Claude

MGMT 675: Generative AI for Finance

Kerry Back, Rice University

Exploring Claude.ai

Getting Started: Claude.ai

Go to claude.ai in any browser. No installation required. Icon at top left opens sidebar.

What it can do: It’s a chatbot with a code execution tool. It can answer questions, explain concepts, brainstorm, draft text, summarize documents you paste in. It can also generate charts, Excel files, Word docs, and PowerPoint decks. Code runs in a sandbox — can pip install packages but has no internet access.

Getting started:

Go to claude.ai and sign in (or create an account)
Type a question or upload a file
Iterate: refine, ask follow-ups, request changes

Artifacts: Interactive Charts and Apps

Claude can produce interactive charts and apps that appear in a side panel
Choose Artifacts → Create an Artifact → apps or websites
Click Publish to get a shareable link — anyone can view and interact, no Claude account needed

What Artifacts Can Build

Interactive charts with hover/zoom
Financial calculators
Scenario analysis with sliders

ROI tools and comparisons
Dashboards with filters
Surveys and data collection

Limitation: Artifacts are client-side only — no database, no persistence. They are disposable by design: generate a new one when needs change, rather than maintaining an old one.

Artifact Example: Black-Scholes Calculator

“Create a Black-Scholes option calculator with inputs for stock price, strike, rate, volatility, and expiration, and plot call and put prices as the stock price varies from 50% to 150% of the strike.”

Publish: Publish the artifact and share the link.

Artifacts Across Platforms

All three major platforms let you describe what you want in plain English and get an interactive tool.

Claude Artifacts build React apps you can publish with one click — no account needed to view
ChatGPT Canvas produces similar React apps with inline editing and shareable links
Gemini Canvas generates HTML/CSS/JS and exports or copies the result

We use Claude, but the concepts transfer to any platform.

Exploring Claude for Excel

Claude for Excel Add-in

What It Does

AI sidebar that reads and edits your workbook
Preserves formula dependencies
Works with local files

Capabilities

Ask questions about workbook content
Build financial models from scratch
Trace and fix formula errors

Requires Claude Pro ($20/mo) or a Claude Team/Enterprise plan.

Installing the Add-in

Open Excel (desktop version, not the web app)
Go to Insert → Get Add-ins
Search for “Claude by Anthropic” and click Add
Sign in with your Claude account when prompted
The Claude sidebar appears on the right — click the Claude icon in the Home ribbon tab to toggle it

The add-in can see your entire workbook: sheet names, cell values, and formulas. It edits cells directly — you can undo any change with Ctrl+Z.

Example: Loan Amortization Table

Open a blank workbook with the Claude sidebar visible. Type:

“Create a loan amortization table for a $300,000 mortgage at 6.5% annual interest with a 30-year term and monthly payments. Use formulas so I can change the loan amount, rate, and term. Include columns for payment number, payment, principal, interest, and remaining balance. Add a summary section showing total interest paid.”

Claude builds the table with live Excel formulas, not hardcoded values
Change the rate or loan amount and the entire table recalculates
Ask follow-ups: “Add a chart of principal vs. interest over time” or “What if I make an extra $200/month payment?”

AI Spreadsheet Tools Compared

Claude for Excel ($20/mo): formula-preserving edits, no OneDrive required — best for financial modeling
Microsoft Copilot ($30/mo): Agent Mode and =COPILOT() function, Python in Excel — best for enterprise ecosystems
Google Sheets + Gemini ($20/mo): =AI() function, web-only — best for cloud collaboration

All three can produce the same kinds of financial tools — DCF calculators, amortization tables, scenario analyzers. Choose based on your ecosystem.