The tool will use the technology’s latest version, GPT-4, which launched this week. It’s currently being tested with 300 advisors, and when released more broadly, will aid all of Morgan Stanley’s 16,000 advisors. The bank’s use of GPT-4 will be intended to assist human advisors, much like a research assistant would. But it’s not supposed to replace human advisors, who are still needed to interact with clients.
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Morgan Stanley is testing OpenAI’s chatbot that sometimes ‘hallucinates’ to see if it can help financial advisors
The experiment is aimed at “helping investment professionals parse through thousands of pages of our in-depth intellectual capital, analyst commentary, and market research in seconds – a process that typically could take more than half an hour,” Morgan Stanley Wealth Management’s head of analytics and data, Jeff McMillan told Fortune. “This will help advisors spend more time focusing on serving their clients.”
