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Wealthy clients going to a Morgan Stanley banker to discuss their investments may soon have a different sort of experience: having a chatbot listen to their conversation. With clients’ permission, the bot will eventually create a meeting summary of the conversation, draft a follow-up email suggesting next steps, update the bank’s sales database, schedule a follow-up appointment, and learn how to help advisers manage clients’ finances on areas such as taxes, retirement savings and inheritances.
“The impact (of AI) will be very significant,” potentially comparable to the advent of the internet, said Sal Cucchiara, Morgan Stanley’s chief information officer of wealth and investment management, who is among the executives driving the bank’s push into AI.
