Morgan Stanley Wealth Management Launches Strategic Initiative with OpenAI to Enhance
Morgan Stanley Wealth Management has launched a strategic initiative with OpenAI to create a bespoke solution, making it one of few GPT-4
Morgan Stanley Wealth Management has launched a strategic initiative with OpenAI to create a bespoke solution, making it one of few GPT-4
Morgan Stanley Wealth Management Launches Strategic Initiative with OpenAI to Enhance
Morgan Stanley Wealth Management (MSWM) today announced an important milestone in its innovation journey through the launch of a strategic initiative to create a bespoke solution with OpenAI, the artificial intelligence research and deployment lab. MSWM is one of a handful of GPT-4 launch organizations, and is currently the only strategic client in wealth management receiving early access to OpenAI’s new products. The business unit will leverage OpenAI’s technology to access, process and synthesize content to assimilate MSWM’s own expansive range of intellectual capital.
Designed specifically for and by Morgan Stanley with appropriate controls, Financial Advisors and their teams will use the internal capability to ask questions and contemplate large amounts of content and data, with answers delivered in an easily digestible format generated exclusively from MSWM content and with links to the source documents. The stream of interactions and feedback from these queries will help further refine the offering while helping Financial Advisors serve their clients better.
This announcement comes on the heels of recent MSWM AI projects that include Next Best Action, an internally-built AI-based engine that delivers timely, customized messages to clients and prospects guided by the Financial Advisor. Additionally, MSWM has been implementing its proprietary Genome capability through self-directed and workplace channels which uses data analytics and machine learning to further personalize client communication.
“We believe trust-based relationships and human advice will always be valued by clients,” said Andy Saperstein, Co-President & Head of Morgan Stanley Wealth Management. “We aim to leverage OpenAI’s breakthrough technology into a competitive advantage in how our Financial Advisors can harness Morgan Stanley’s knowledge & insights in ways that were once never thought feasible.”
Morgan Stanley Wealth Management is also considering additional OpenAI technology which has potential to enhance insights from Financial Advisors’ notes & streamline follow-up client communications. With a proven track record integrating technology & innovation into its complex operating environment – from Smith Barney integration to risk & portfolio analytics work with BlackRock’s Aladdin® platform – this partnership marks another step forward for Morgan Stanley’s commitment to providing leading edge solutions for their customers.
Through this collaboration with OpenAI, Morgan Stanley Wealth Management hopes to bring value & richness of its expansive intellectual capital into hands of Financial Advisors faster than ever before & free up valuable time for them focus on what they do best – serving their clients. By leveraging cutting edge AI technology alongside human advice & trust based relationships, Morgan Stanley is poised become Category One leader in industry as it continues on its journey towards innovation excellence.
Final Thought: By partnering with OpenAI on this strategic initiative, Morgan Stanley Wealth Management is demonstrating its commitment towards providing leading edge solutions for their customers while staying true to core values around trust based relationships between advisors & clients.
