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Morgan Stanley Wealth Management announces key milestone with OpenAI
The Fly

Morgan Stanley Wealth Management announces key milestone with OpenAI

Morgan Stanley Wealth Management 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. The business unit is one of a handful of GPT-4 launch organizations, and Morgan Stanley is currently the only strategic client in wealth management receiving early access to OpenAI’s new products. MSWM will leverage OpenAI’s technology to access, process and synthesize content to assimilate MSWM’s own expansive range of intellectual capital in the form of insights into companies, sectors, asset classes, capital markets, and regions around the world. 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 to better serve their clients. The 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. MSWM has also been implementing its proprietary Genome capability through the self-directed and workplace channels, which uses data analytics and machine learning to further personalize client communication. Morgan Stanley Wealth Management is also considering additional OpenAI technology, which has the potential to enhance the insights from Financial Advisors’ notes and streamline follow-up client communications.

Published first on TheFly

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