Morgan Stanley will launch a chatbot for wealthy clients – Kommersant

This month, the American bank Morgan Stanley will launch a chatbot based on artificial intelligence, which will be used to serve wealthy clients. According to Reutersa chatbot developed in collaboration with OpenAI, the creator of the ChatGPT chatbot, has been tested over several months with thousands of financial advisors.

It is planned that the banking chatbot will be used by employees to quickly find the necessary data or documents that may be needed when communicating with clients. In addition, the bank plans to use this virtual assistant – subject to the customer’s consent – to create a summary of the customer’s conversation with the employee, create a list of next actions, enter updated data into the bank’s database, schedule the customer’s next visits to the bank, and perform a number of other functions. The bank has not yet provided a full description of the program, the agency notes.

Meanwhile, as Sal Cucchara, head of information services for Morgan Stanley’s wealth and investment management division, emphasized, investment advice will continue to be provided by the bank’s employees themselves. The bank sees the chatbot as a technology that is a convenient tool, but “consultants still remain the central link.” Other large companies in the banking and financial sector that are implementing AI and launching or preparing to launch their chatbots include JPMorgan Chase, Bank of America, and Moody’s Analytics.

Alena Miklashevskaya