At the University of Dayton’s School of Business Administration, students manage over $80 million in assets through the Davis Center for Portfolio Management.
When Will Otterbein, a junior finance major and Davis Center member, used AI during an investment research internship in Philadelphia, he saw its potential not only in the workplace but also within the Davis Center. He saw the potential for AI to accelerate investment analysis by summarizing reports and identifying trends, but he saw a critical flaw: it can generate inaccurate information.
That raised an important question: as AI becomes part of modern investment research, how can it be used responsibly, especially when students are managing millions in real assets?
He brought that insight back to campus to create guardrails that help Davis Center students analyze investments responsibly by combining AI efficiency with reliable financial data.
Building AI Guardrails for a Competitive Edge
Over his winter break, Otterbein used a Python script to pull official SEC filings from the last five years of 10-Ks, and 10-Qs, and the 20 most recent 8-Ks. He uploaded the data to NotebookLM to ensure he could achieve automation without relying on unreliable open-source data. From this experience, he developed a 40-page workflow, complete with a company example, that allows Davis Center students to apply best practices for LMNotebook using trusted financial data.
What once took hours to do industry research, competitor analysis, and company reviews can now be done more efficiently and with greater confidence. Within weeks, the workflow was adopted by the majority of Davis Center students.
For Otterbein, the real value of AI is not speed; it’s focus. It reduces time spent on low-value tasks and creates more space for critical thinking, analysis, and creativity. As routine work fades, students who think deeply and solve problems effectively will stand out.
By streamlining how information is gathered, AI gives students more time to think strategically, refine their insights, and make stronger investment decisions.
“Will exemplifies the intellectual curiosity of our UD Davis Center students. AI no doubt will be a disruptor, and we believe it to be primarily a productivity tool for those who embrace it,” said Dan Kapusta, Director of the Davis Center for Portfolio Management. “Productivity is the growth engine of the U.S. economy, and the Davis Center is committed to using it to our advantage, creating capital gains on behalf of the University.”
Keeping Humans in the Loop
Despite the efficiency AI provides, Otterbein emphasizes that human judgment remains essential.
In the Davis Center, students take ownership of the companies they research and recommend for investment.
“When you do the research and pitch, you’re proud of the work you put through. It is a part of our culture and increases motivation. That’s why it’s so important to keep human-in-the-loop and make sure AI is not making decisions for you,” said Otterbein. “You feel so much more proud and connected to the name that you brought, and that is a huge driver for success.”
That sense of accountability, critical thinking, and growth through failure is a core part of the learning experience that makes students in the Davis Center so successful in the lab and out in the real world.
And the Davis Center students are successful, meeting their goal of outperforming the S&P 500 and being recognized as the nation's number 1 student-run fund for over five years in a row. As impressive as it is, the Davis Center is there to teach.
“The Davis Center is experiential learning for students. We are going to make mistakes,” said Otterbein. “But I want them to be our mistakes, not AI’s.”
Where Learning Comes Before Automation
It is one of the reasons why Otterbein has implemented a policy that first-year Davis Center interns may not use the AI guardrail tools in their internship process.
“We don’t think you can effectively use AI to do the work for you unless you have the base education through the Davis intern program,” said Otterbein.
At the Davis Center, the “internship” is an internal, learning-focused experience that prepares students for success in the center.* Through this program, students gain hands-on experience completing a full stock pitch from start to finish.
Students begin in small teams led by ambassadors who guide them through the research and analysis process. As they progress, upper-level mentors and sector leaders provide hands-on support, especially during the final weeks of building a full investment pitch.
The goal isn’t perfection. It’s building a strong foundation. After completing the intern program, students will have access to AI resources and learn how to effectively apply AI to enhance the foundational skills they’ve developed.
Preparing for Leadership
Next year, Otterbein will take on an even larger role in the Davis Center after being selected as Senior Manager, helping oversee the program.
He also plans to continue refining the AI tools and workflows students use as technology evolves.
For Otterbein, the experience reflects what makes a UD business education distinctive in a field increasingly shaped by technology. It is the ability to adapt, lead responsibly, and give students the opportunity to innovate their future.
*Starting in Fall 2026, all incoming business students will complete a professional internship through BWISE and the Career Flight Plan. While the Davis Center internship is a valuable learning experience, it does not count toward this requirement.