Morgan Stanley Tried To Push Chatbot Created With OpenAI, But Wealth Managers Prefer Talking To A Person Instead
Portfolio Pulse from Rounak Jain
Morgan Stanley's (NYSE:MS) wealth managers are showing resistance to using an AI chatbot developed in partnership with OpenAI, preferring human interaction for information. Despite the bank's efforts to integrate AI into its operations since March 2023, the adoption among wealth managers has been slow. Concerns were also raised when OpenAI faced internal turmoil, with a significant number of employees threatening to leave, potentially impacting Morgan Stanley's reliance on the technology. OpenAI's COO, Brad Lightcap, has cautioned against expecting quick, significant business changes from AI technology.
December 05, 2023 | 12:24 pm
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Morgan Stanley's AI chatbot initiative with OpenAI is facing resistance from its wealth managers, which may affect the bank's innovation strategy and operational efficiency.
The reluctance of wealth managers to use the AI chatbot may slow down Morgan Stanley's tech integration, but it's not clear if this will significantly impact the stock price in the short term. The situation could change if the chatbot gains acceptance or if further issues with OpenAI arise.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
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Microsoft was indirectly involved in the OpenAI drama, with employees threatening to leave for the company, but this has had no direct impact on Microsoft's operations or stock.
While Microsoft was mentioned as a potential destination for OpenAI employees, the situation was resolved without affecting Microsoft directly. Therefore, the impact on Microsoft's stock is likely to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 20
RELEVANCE 20