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Generative AI has landed on Wall Street. Here's how it can help propel 'massive' revenue growth - TL;DR CNBC

Generative AI has landed on Wall Street. Here's how it can help propel 'massive' revenue growth

Publishing timestamp: 2023-12-18 12:26:57


Summary

The article discusses the impact of generative artificial intelligence (AI) on wealth management firms. Experts believe that generative AI, when combined with other AI technologies, can transform the way these firms do business. The banking sector, including asset management and wealth management, is expected to benefit greatly from generative AI. Companies like BlackRock and Morgan Stanley have already embraced generative AI and are implementing it in their operations. The article also mentions smaller firms like Farther and Magnifi that are using AI to disrupt the industry. Overall, the article emphasizes the potential of generative AI to enhance productivity, improve client interactions, and revolutionize the wealth management industry.


Sentiment: POSITIVE

Tickers: MSJPMBLKGS

Keywords: blackrock incmorgan stanleyjpmorgan drnbanksgoldman sachs group incfinancialstechnologybreaking news: technologybusiness news

Source: https://www.cnbc.com/2023/12/18/generative-ai-has-landed-on-wall-street-heres-how-it-can-help-propel-massive-revenue-growth-.html


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