Morgan Stanley kicks off generative AI era on Wall Street with assistant for financial advisors
Publishing timestamp: 2023-09-18 10:31:57
Summary
Morgan Stanley has announced that its AI assistant, created with OpenAI's latest software, is now fully live for financial advisors and their support staff. The tool provides quick access to a database of research reports and documents. The assistant is based on OpenAI's GPT-4 and is the first major Wall Street firm to implement a bespoke solution using this technology. The goal is to revolutionize client interactions, improve advisor practices, and save time for advisors and customer service employees. Morgan Stanley is also piloting other generative AI tools, such as Debrief, which automatically summarizes client meetings. The use of AI in the financial industry is seen as a disruptive opportunity that Morgan Stanley did not want to miss out on.
Sentiment: POSITIVE
Keywords: technology, business news, breaking news: investing, goldman sachs group inc, breakingnewsglobal, jpmorgan drn, investment strategy, breaking news: markets, morgan stanley, banks, breaking news: technology,
Source: https://www.cnbc.com/2023/09/18/morgan-stanley-chatgpt-financial-advisors.html