Business Transformation | 09.20.23

Morgan Stanley Kicks Off Generative AI Era on Wall Street With Assistant for Financial Advisors

by: Hugh Son

Morgan Stanley has announced that the assistant it created with OpenAI’s GPT-4 is “fully live” for all financial advisors and their support staff. “Financial advisors will always be the center of Morgan Stanley wealth management’s universe,” Morgan Stanley co-President Andy Saperstein said in a memo. “We also believe that generative AI will revolutionize client interactions, bring new efficiencies to advisor practices and ultimately help free up time to do what you do best: serve your clients.” Called the AI @ Morgan Stanley Assistant, the tool gives financial advisors quick access to the bank’s “intellectual capital,” a database of about 100,000 research reports and documents.

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