Morgan Stanley is extending its use of OpenAI-powered generative AI tools to its investment banking and trading division. Building on the success of its AI assistant for wealth management advisors, the firm introduced AskResearchGPT within its institutional securities group this summer, according to Katy Huberty, Morgan Stanley’s global director of research.
The tool, based on OpenAI’s ChatGPT, allows users to efficiently extract insights from over 70,000 research reports the bank produces annually, covering stocks, commodities, and industry trends. Huberty described the AI tool as a “game changer from a productivity standpoint” and noted its ability to help staff access high-quality information swiftly.
AskResearchGPT has gained significant traction within Morgan Stanley, particularly among salespeople and client-facing employees, who use it to handle inquiries from hedge funds and institutional investors. According to Huberty, the tool has led to a threefold increase in the number of questions asked compared to a previous AI tool, and it enables sales staff to respond to client inquiries in a tenth of the usual time.
While AI adoption is growing, Huberty emphasized that the technology complements rather than replaces human expertise. “I don’t see in the near future a path to just having the machine write the research report to generate the idea,” she said, reinforcing the importance of human judgment in making decisions and maintaining relationships.
Morgan Stanley is not alone in leveraging OpenAI’s generative tools. Roughly half of the bank’s 80,000 employees are using these AI tools, while at rival JPMorgan Chase, about 60% of employees have access to similar technology. Pierre Buhler, a banking consultant, noted OpenAI’s strong market penetration but acknowledged that competitors like Anthropic are likely to gain ground over time.
