Behold the Morgan Stanley digital sign at the iconic Times Square headquarters in New York, U.S., captured on Friday, Jan. 12, 2016.
Witnessed by John Taggart | Bloomberg | Getty Images
Morgan Stanley has appointed a technology executive from its wealth management division as the bank’s inaugural head of firm-wide artificial intelligence, as per CNBC’s exclusive report.
The bank is promoting Jeff McMillan, a seasoned professional at the New York-based bank, to lead its implementation of AI across the firm, according to a memo sent Thursday from co-presidents Andy Saperstein and Dan Simkowitz.
Last year, Morgan Stanley made history as the first major Wall Street firm to develop a solution for employees based on OpenAI’s GPT-4, a project overseen by McMillan.
This move underscores the growing significance of artificial intelligence in financial services, driven by the rapid ascent of generative AI tools that produce human-like responses to inquiries.
Despite widespread job cuts on Wall Street last year, firms vied to fill thousands of AI positions,…
2024-03-14 16:14:36
Originally from www.cnbc.com