Morgan Stanley Expands OpenAI-Powered AskResearchGPT for Investment Banking, Nearly Half of Employees Using AI Tools

Oct 24, 2024, 10:19 AM

Morgan Stanley is expanding its use of OpenAI-powered generative artificial intelligence tools within its investment banking and trading division. The new tool, named AskResearchGPT, is designed to assist institutional securities staff in quickly extracting insights from the bank's extensive research resources. Nearly half of Morgan Stanley employees have reportedly utilized tools based on OpenAI's technology, reflecting a broader trend among major financial institutions, including JPMorgan, to integrate AI into their operations. This move underscores the growing reliance on AI for investment insights and trading strategies on Wall Street.