Morgan Stanley Expands OpenAI-Powered Tools to Boost Productivity in Investment Banking and Trading.

Morgan Stanley is extending its use of generative AI tools from OpenAI, including a new assistant called AskResearchGPT, to its investment banking and trading division. The tool extracts insights from over 70,000 research reports and aims to boost productivity for research analysts and institutional securities staff. Approximately half of Morgan Stanley's 80,000 employees are now using these AI tools following successful implementation in wealth management. Competitor JPMorgan Chase has also embraced OpenAI, with 60% of its workforce using similar platforms.