Morgan Stanley introduces Debrief, an AI assistant for financial advisors to boost productivity

From CNBC: 2024-06-26 09:24:33

Morgan Stanley is introducing Debrief, an AI assistant for financial advisors, expected to save thousands of hours of manual work by creating meeting summaries and draft emails. Built on OpenAI’s GPT-4, the program brings generative AI directly into client meetings. The rollout will test productivity gains in the wealth management division, and advisors believe it will boost client retention and assets under management.

The new AI tool requires client consent for use, with future versions set to be used in corporate devices for in-person meetings. The goal is to automate everyday tasks like creating reports and proposals, balancing portfolios, and parsing contracts to improve productivity across all divisions of Morgan Stanley. AI adoption in finance could bring $170 billion in industry profits by 2028, but business models are expected to change with AI advancement.



Read more at CNBC: Morgan Stanley OpenAI-powered assistant to roll out for wealth advisors