Morgan Stanley CEO says AI could save financial advisers 10 to 15 hours a week

By Thomson Reuters Jun 10, 2024 | 12:09 PM

NEW YORK (Reuters) – The use of artificial intelligence could save Morgan Stanley’s financial advisers between 10 to 15 hours a week, the bank’s CEO Ted Pick told investors at a conference on Monday.

“This is potentially really game-changing,” Pick said. The bank’s tool to transcribe and enter notes from client meetings into a database could increase advisers’ productivity, he said.

It could also help them to fine-tune topics to discuss with individual clients and tailor investment products to clients’ needs, he said.

(Reporting by Niket Nishant and Tatiana Bautzer)