![]() ![]() Yesterday was an amazing day for patient family housing at Boston Children's Hospital with the groundbreaking for the Corey Griffin House. Happy #JewishAmericanHeritageMonth to my fellow tribesmen out there!īelow is a photo of some of the decorations and scenes from today's lunch and learn. I asked attendees to pre-read the article you wrote in Forbes ahead of the session today - it was quite moving! Vozzella, Nick Brodeur, MBA, Chris Quaye, and Jeff Swartz for providing me with the forum to discuss many important topics today!Īnd a special shout-out to Debbie Lovich for writing an inspirational article about being a "Heads-Up" Jew in the workplace. I'm proud of my Judaism and believe it's extremely important that our workplaces embrace cultural sensitivity and education for professionals from all walks of life. The focus was on cultural awareness around Jewish customs, observances, antisemitism, and much more, and led to an enjoyable conversation and an active Q&A afterward - about 40 people showed up! The buy-in and engagement across the organization has been impressive.Had the privilege of educating my local Boston complex colleagues at an inaugural May Jewish American Heritage Month cultural lunch and learn today, alongside my Jewish counterpart, Todd Vogel. This endeavor has been particularly rewarding. “OpenAI is perhaps the best example to date of empowering Morgan Stanley with the marriage of human advice and technology-something to which we are completely committed. “Key to ensuring good client service is our ability to invest at scale in technology,” he continues. The wealth management firm is also evaluating additional OpenAI technology with the potential to enhance the insights from advisor notes and streamline follow-up client communications. McMillan says the effort will also further enrich the relationship between Morgan Stanley advisors and their clients by enabling them to assist more people more quickly. The focus will always be on getting advisors the insight they need, in the format they need, instantly. Today, more than 200 employees are querying the system on a daily basis and providing feedback. They have trained GPT-4 to make the internal chatbot as helpful as possible for Morgan Stanley’s needs. The last part, McMillan says, are its people: Morgan Stanley’s huge team of financial advisors and their expertise in serving clients. This wealth of knowledge creates a unique internal content repository for Morgan Stanley to process and parse using GPT-4 while also being subject to the firm’s internal controls. The company was founded almost 100 years ago and publishes thousands of papers annually covering insights on capital markets, asset classes, industry analysis, and economic regions around the globe. The second part, McMillan says, is Morgan Stanley’s intellectual capital. ![]() The first part is GPT4’s “extraordinary capability to access, process and synthesize content almost instantaneously.” It’s trained on vast amounts of text on the internet and builds relationships between the words, sentences, concepts, and ideas. For Morgan Stanley Wealth Management, McMillan breaks it down into three parts. ![]() Over the last few years, large language models have fundamentally altered the way companies put knowledge to work, much like the web did a few decades ago. We believe that is a transformative capability for our company.” “Think of it as having our Chief Investment Strategist, Chief Global Economist, Global Equities Strategist, and every other analyst around the globe on call for every advisor, every day. ![]() “You essentially have the knowledge of the most knowledgeable person in Wealth Management-instantly”, McMillan adds. GPT-4, his project lead notes, has finally put the ability to parse all that insight into a far more usable and actionable format. The model will power an internal-facing chatbot that performs a comprehensive search of wealth management content and “effectively unlocks the cumulative knowledge of Morgan Stanley Wealth Management,” says Jeff McMillan, Head of Analytics, Data & Innovation, whose team is leading the initiative. Starting last year, the company began exploring how to harness its intellectual capital with GPT’s embeddings and retrieval capabilities-first GPT-3 and now GPT-4. With the help of OpenAI’s GPT-4, Morgan Stanley is changing how its wealth management personnel locate relevant information. Such searches can be time-consuming and cumbersome. This vast amount of information is housed across many internal sites, largely in PDF form, requiring advisors to scan through a great deal of information to find answers to specific questions. A leader in wealth management, Morgan Stanley maintains a content library with hundreds of thousands of pages of knowledge and insights spanning investment strategies, market research and commentary, and analyst insights. ![]()
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