Morgan Stanley Expands OpenAI-Powered AI Tools Across Investment Banking and Trading Divisions

Morgan Stanley is amplifying its use of OpenAI’s generative AI by rolling out new tools in its prestigious investment banking and trading divisions. Previously, the bank introduced a ChatGPT-based AI assistant for wealth management in early 2023. Now, the investment banking arm gains access to AskResearchGPT, a chatbot launched this summer specifically for Morgan Stanley’s institutional securities team.

Designed to streamline research queries, AskResearchGPT taps into Morgan Stanley's extensive database of reports on stocks, commodities, and industry trends, addressing an ongoing challenge for employees seeking insights among the bank’s annual output of over 70,000 reports. “We see it as a game changer from a productivity standpoint,” says Katy Huberty, Morgan Stanley’s global research director. The tool’s efficiency allows employees, particularly sales and client-facing staff, to respond to investor inquiries in one-tenth the time previously required.

As generative AI gains traction on Wall Street, other major firms are following suit. At JPMorgan Chase, for instance, 60% of the 316,000-strong workforce is now using OpenAI’s models, underscoring the rapid adoption of AI across finance.

In a demonstration, AskResearchGPT showcased its capability to summarize complex financial positions on topics like copper markets or companies such as Nvidia, while handling industry-specific jargon and providing visual data like charts and research links. Integrated into Microsoft Teams, Outlook, and employee browsers, the AI tool is designed for immediate accessibility, supporting enhanced productivity.

When asked about the long-term implications of AI on the role of analysts, Huberty emphasized the irreplaceable value of human judgment. While AI streamlines tasks, Huberty maintains that the human element—expert judgment, relationship management, and nuanced decision-making—remains fundamental in banking roles.