The Use Of AI In Morgan Stanley Potentially Saves 10-15 Working Hours Per Week

Jakarta - The use of artificial intelligence (AI) can save financial advisor Morgan Stanley's work time of between 10 and 15 hours per week. This was said by the bank CEO, Ted Pick, to investors at a conference, Monday, June 10.

"This has the potential to really change the game," Pick said, adding that a bank tool that can transcribed and enter notes from client meetings into databases could increase advisory productivity.

"AI can also help advisors improve discussion topics with rich clients and adapt investment products according to their needs," he added.

Last year, Reuters reported that Morgan Stanley was testing a general AI chatbot developed with OpenAI.

Pick estimates the high interest rate in the US will continue, in line with the views of his colleagues Jamie Dimon of JPMorgan Chase and David Solomon of Goldman Sachs.

"This is good for business - we will continue to print tickets," he said, providing trading platforms, creating markets or helping clients do hedging in volatile trading conditions.

The bank plans to increase loans to high-income clients through advanced products such as structured loans.

Separately, Pick said Morgan Stanley would maintain a "sakral" dividend, while noting that the share buyback would depend on the share price. "I'm a person who likes dividends," he said. Shares of this bank have risen more than 12% in the past year, one of which is thanks to AI.