Blog Post #8: Technology

 Blog Post #8: Technology

Something that is very interesting in the financial services industry is the slow inclusion of generative AI additions to existing processes. I’m lucky to say that I am at Morgan Stanley while they are rolling out a fleet of AI tools for employees to use, which include an internal Microsoft Copilot and OpenAI initiatives, among other things. The reasoning behind the hesitance of firms to embrace this new technology is that a lot of the information that flows throughout these banks is not only confidential anywhere outside of the building, but some information is material non-public information, meaning that it cannot leave a certain floor. There is also an element of the financial services industry that is risky to include AI within, which is the client engagement activities. A selling point that makes certain banks stand out is their ability to recruit exceptional salespeople who give clients an experience while working with them that makes them come back for more business.

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