Morgan Stanley is testing an OpenAI-powered chatbot for its 16,000 financial advisors

A new chatbot powered by OpenAI’s latest technology will help Morgan Stanley’s army of financial advisors.

Artificial intelligence has been a very important part of every profession lately, the bank has been testing the tool with about 300 advisors and has been planning to bring it into action over the coming months.

This is one of the first announcements by a financial incumbent following the viral success of OpenAI’s ChatGPT, which generated human-sounding responses to questions late last year.

The main purpose of the tool is to help the bank’s around 16,000 advisors tap the bank’s research and data storage.

“People want to be as knowledgeable as the smartest person” in our firm, McMillan said. “This is like having our chief strategy officer sitting next to you when you’re on the phone with a client.”

Just like ChatGpt the tool instantly answers questions, it is like GPT 4 which is even more advanced.

“We’re trying to actually break the platform through human testing” this was said.

“With high-quality information, better models, and an ongoing monitoring process the bank is confident in its new tools” was repeated.

“I think every industry is going to be in some way disrupted for what I’ll describe as routine, basic tasks,” McMillan said.

But when it comes to attending to a high level and sophisticated clients AI and machines cannot replace humans.

“These things don’t have any empathy; they’re just very clever math that is able to regurgitate knowledge,” he said.

- Published By Team Nation Press News