The bank is one of a handful of launch organisations for GPT-4, the just-release fourth multimodal large language model from OpenAI.

Morgan Stanley Wealth Management will use the technology to access, process and synthesize content to assimilate its own range of intellectual capital in the form of insights into companies, sectors, asset classes, capital markets, and regions around the world.

Designed specifically for and by Morgan Stanley, financial advisors and their teams will use the internal capability to ask questions and contemplate large amounts of content and data, with answers delivered in an easily digestible format.

The bank says that the stream of interactions and feedback from these queries will help further refine the offering while helping advisors to better serve their clients.

Andy Saperstein, co-president and head, Morgan Stanley Wealth Management, says: “We aim to leverage OpenAI’s breakthrough technology into a competitive advantage in how our Financial Advisors can harness Morgan Stanley’s knowledge and insights in ways that were once never thought feasible.

"This technology is a game changer in synthesizing our expansive intellectual capital, bringing the value and richness of it to a whole new level, and in the process freeing up valuable time for Financial Advisors to do what they do best—serve their clients.”

Meanwhile, Stripe has also been part of the GPT-4 beta, initially focusing on boosting documentation to allow developers to pose natural language queries within Stripe Docs. GPT-4 answers queries by summarising the relevant parts of the documentation or extracting specific pieces of information. This lets developers spend less time reading and more time building.

Stripe has also secured a deal to power payments for OpenAI as it moves to commercialise its ChatGPT and DALL·E generative AI technologies.