Morgan Stanley Rolls Out New GenAI Solution To Support Staff In Gaining Insight From Data Libraries

Morgan Stanley recently introduced a new generative AI-powered assistant called AskResearchGPT. It intends to offer it to staff members, who will be able to use it in surfacing and distilling insights from its massive research library.

What Can AskResearchGPT Do?

The main purpose of AskResearchGPT is to be used to look for data, and find it faster using Artificial Intelligence. On top of that, staff will be able to obtain insights and summarize information from over 70,000 proprietary reports published every year by the bank.

With GenAI assistant, investment banking sales and trading staff will have one-click access to essentially any info, as the AI is embedded within their day-to-day workflow. As such, it can provide a more comprehensive, in-depth view of most research information currently available.

Furthermore, this workflow integration will allow staff a single-click option to also transfer the findings of their queries into an email draft. There, it can be modified and customized before staff members share it with the clients. The AI was designed to also include hyperlinks in the findings, leading to citations of relevant research materials.

Thanks to this, staff and clients alike will be able to further research any aspect of the data if they need to do so, and find it easily, with a single click on the link.

AskResearchGPT Will Improve Staff Members’ Relationship With Consumers

Commenting on the new GenAI assistant, Morgan Stanley Research’s head of technology strategy, Eden Kidner, stated that AskResearchGPT gives the bank’s client-facing team a leg up. It can free the capacity to more deeply engage with the clients themselves, instead of having to spend excessive amounts of time digging through data to find answers to their questions.

Not only that, but the AI can find more data faster, while the staff member can improve their relationship with the client, and as a result, improve customer service across the board.

Kidner added that this is an important step in delivering a firmwide Research platform that is not only omnipresent across all of the bank’s tools, but will eventually extend its capabilities even more with other information sources, skills, and languages. 

“We continue to experiment with the most recent generative AI improvements, identifying other opportunities to enhance our employee and client engagement.”

Morgan Stanley has made major leaps in using GenAI on Wall Street, and it all started with its partnership with OpenAI in the spring of 2023. Now, AskResearchGPT is the first use case in the institutional securities arena, and is joining a growing suite of generative AI-powered tools in Morgan Stanley’s arsenal.