16,000 financial advisors of the bank must be nervous.
, head of analytics, data, and innovation at the company's wealth management division, the bank has tested the artificial intelligence tool with 300 advisers. It intends to make it broadly available in the upcoming months.Morgan Stanley is one of the first financial incumbents to declare a move following the success of, which went viral late last year by producing human-sounding responses to inquiries. With more than $4.
According to McMillan, individuals aim to be as knowledgeable as the brightest employee at Morgan Stanley. “This is like having our chief strategy officer sitting next to you when you’re on the phone with a client,” he added. The program will provide advisors with immediate answers, just like ChatGPT does. Nevertheless, it is built onAdditionally, this program exclusively creates responses based on the roughly 100,000 pieces of research that Morgan Stanley has approved for this usage, which should reduce inaccuracies. According to him, the bank employs people to verify the accuracy of responses to further eliminate errors.
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