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Morgan Stanley signaled its commitment to AI by creating a new firmwide AI leadership role. In March 2024, the bank appointed 15-year veteran Jeff McMillan as Head of Firmwide Artificial Intelligence, tasking him with coordinating AI strategy and governance across all business units. On the client-facing front, Morgan Stanley deployed generative AI tools to boost the productivity and capabilities of its advisors and bankers. In June 2024, Morgan Stanley Wealth Management rolled out AI @ Morgan Stanley Debrief, an OpenAI-powered tool that acts as an automated note-taker for client meetings. On the institutional side, Morgan Stanley introduced AskResearchGPT in October 2024 – a generative AI assistant tailored for its Investment Banking, Sales & Trading, and Research divisions. 

To ensure responsible use, it partnered with other financial institutions under the Financial Services Innovation Network (FINOS) to launch an open-source AI governance framework, reinforcing ethical practices and industry standards.