Morgan Stanley Moves Forward on Homegrown AI

Morgan Stanley said it finished deploying its second generative artificial intelligence application to financial advisers last week, favoring homegrown solutions over out-of-the-box tooling from tech providers according to a story in The Wall Street Journal. The new tool, AI @ Morgan Stanley Debrief, which summarizes video meetings and generates drafts of follow-up emails based on them, was Morgan Stanley’s second generative AI use case built in collaboration with OpenAI. It follows the September 2023 rollout of its AI knowledge assistant tool that helps financial advisers quickly track down information from Morgan Stanley research.   Both of Morgan Stanley’s tools were built using OpenAI’s GPT model and in consultation with OpenAI, as part of the strategic partnership the two companies signed in early 2022. Morgan Stanley said that after assessing the product landscape for this use case, it opted for customization and seamless integration afforded by building the tools in house with OpenAI’s technology, rather than buying fully built solutions off the market.