Morgan Stanley quarterly performance reports and press releases

Morgan Stanley Expands AskResearchGPT AI Tools, Engaging Half of Employees in Investment Banking Division

Oct 23, 2024, 04:14 PM

Morgan Stanley is significantly enhancing its use of artificial intelligence by expanding OpenAI-powered chatbot tools within its Wall Street division. The firm has introduced AskResearchGPT, an AI tool designed to assist users in quickly extracting insights from its institutional securities division. Nearly half of Morgan Stanley's employees are reportedly utilizing tools based on OpenAI's technology, which underscores the firm's commitment to integrating generative AI into its investment banking and trading operations. This move aligns with similar initiatives at other financial institutions, such as JPMorgan, which are also leveraging AI to gain a competitive edge in the market.