AI on the trading floor: Morgan Stanley expands OpenAI-powered chatbot tools to Wall Street division

Published On Oct 23, 2024, 9:00 AM

Morgan Stanley has expanded the use of OpenAI-powered generative AI tools in its investment banking and trading divisions. A chatbot named AskResearchGPT allows employees to quickly access insights from over 70,000 reports produced annually by the bank, improving productivity significantly. The tool is gaining popularity among client-facing staff who can respond to inquiries much faster than before. Nearly half of Morgan Stanley’s employees are utilizing generative AI tools, reflecting a broader trend across major financial institutions like JPMorgan and Goldman Sachs.

Read full article

Stock Forecasts

MSView MS chart on TradingView

Positive

Morgan Stanley's adoption of AI technology positions it favorably in the competitive investment banking sector, potentially enhancing efficiency and client satisfaction. This trend of integrating AI can lead to increased revenue streams and better performance metrics.

Related News

Stock futures are little changed after Dow closes at another record high: Live updates

Oct 16, 2024, 6:02 PM

The major averages rose on Wednesday, while the 30-stock Dow posted another record close.

AA
CSX
MS

Stock market today: Dow leads stocks higher as fresh earnings roll in

Oct 16, 2024, 3:18 PM

Eyes are on results from Morgan Stanley and others for reasons for stocks to rebound to record highs.

MS
NVDA
SPY
D
JETS

Stock market today: Dow rises, Nasdaq slips as fresh earnings roll in

Oct 16, 2024, 10:51 AM

Eyes are on results from Morgan Stanley and others for reasons for stocks to rebound to record highs.

MS
NVDA