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Morgan Stanley Develops own AI System
By Joash Pandita
Morgan Stanley, a leading American multinational investment bank and financial services provider, has rolled out its second generative AI tool called AI @ Morgan Stanley Debrief. Designed to support financial advisors, the tool summarises video meetings and prepares follow-up emails, reinforcing the firm’s ongoing partnership with OpenAI.
This new development follows the successful launch of the AI Knowledge Assistant in September 2023, which enables advisors to quickly access insights from Morgan Stanley’s vast research library.
Alexandra Mousavizadeh, co-founder of Evident, highlighted that Morgan Stanley’s decision to build its own AI solutions, rather than rely on ready-made products, reflects a growing movement across the financial services sector.
Tailored AI tools integrate more smoothly with existing processes, ultimately boosting efficiency and effectiveness. Mousavizadeh also noted that designing AI for specific requirements is especially valuable in industries like insurance and retail.
Alexandra Mousavizadeh, co-founder of Evident“you get to design it, make it to fit into your workflows and just make it more seamless,”
Other major banks, including BNP Paribas and TD Bank, are also collaborating with specialized AI developers such as Mistral AI and Cohere. Yet, Morgan Stanley distinguishes itself through its deep customization and integration, powered by OpenAI’s GPT model.
David Wu, Morgan Stanley’s Head of AI Product & Architecture Strategy, explained that building proprietary AI tools ensures seamless interaction with the firm’s existing platforms like Microsoft Outlook, Zoom, and Salesforce. Unlike generic alternatives, these customized solutions are specifically designed to meet the unique needs of their advisors.
Although still in its early rollout phase, this strategy signals a bold move towards in-house AI development to drive productivity and enhance client service.
The firm’s partnership with OpenAI has already shown strong results, with its knowledge assistant tool being actively used by 98% of teams. This success highlights the long-term value of customized AI applications and underscores that artificial intelligence is set to remain a central force in the financial industry.
