20 AI News Investors Should Not Miss

10. Morgan Stanley (NYSE:MS)

Number of Hedge Fund Holders: 62

Morgan Stanley (NYSE:MS) is an American multinational investment bank and financial services company offering various financial products and services to corporations, governments, financial institutions, and individuals in different parts of the world. The company has been investing in AI to help financial advisors understand client needs. Initiatives like AI @ Morgan Stanley Debrief provide insights into client interactions, while the AI @ Morgan Stanley Assistant is a chatbot that offers personalized support for advisors.

On October 23, CNBC reported that Morgan Stanley (NYSE:MS) has been expanding the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division. In early 2023, the firm launched an AI assistant based on OpenAI’s ChatGPT technology. The other version called AskResearchGPT began rolling out this summer in its institutional securities group, notes Katy Huberty, Morgan Stanley’s global director of research. The tool will help users extract answers from the vast array of Morgan Stanley’s research, which includes stocks, commodities, industry trends, and regions. This will simplify the otherwise burdensome task of extracting insights from the over 70,000 reports generated by the bank each year.

“We see it as a game changer from a productivity standpoint, both for our research analysts and our colleagues across institutional securities. The tool helps staff “access the highest quality, most insightful information as efficiently as possible.”

– Katy Huberty, Morgan Stanley’s global director of research.