Morgan Stanley Wealth Management to create bespoke OpenAI model
Global wealth manager Morgan Stanley Wealth Management (MSWM) has announced a partnership with OpenAI and its ChatGPT model.
The firm’s wealth management division was developing a bespoke internal service that would leverage OpenAI technology and Morgan Stanley’s intellectual capital to deliver insights to its advisers.
Answers to questions would be delivered in an easily-digestable format generated from MSWM insights into companies, sectors and geographies with links to source documents and feedback to these would help refine the offering.
In addition, it was considering using OpenAI technology to enhance advisers’ notes and streamline client communication.
Andy Saperstein, head of MSWM, said: ““We believe trust-based relationships and human advice will always be valued by clients, and the financial adviser and their teams will remain the centre of our wealth management universe.
“We aim to leverage OpenAI’s breakthrough technology into a competitive advantage in how our financial advisers can harness Morgan Stanley’s knowledge and insights in ways that were once never thought feasible.
“This technology is a game changer in synthesising our expansive intellectual capital, bringing the value and richness of it to a whole new level, and in the process freeing up valuable time for financial advisers to do what they do best—serve their clients.”
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