Morgan Stanley appoints Jeff McMillan as head of firm-wide AI, signifying the industry's AI focus.

Morgan Stanley has appointed Jeff McMillan, formerly from its wealth management unit, as the head of firm-wide artificial intelligence (AI). This move highlights the growing importance of AI in the U.S. financial services industry, with Morgan Stanley, JPMorgan Chase, and Goldman Sachs all assigning executives to lead AI initiatives. Morgan Stanley was the first major Wall Street bank to create a product based on OpenAI's GPT-4 chatbot last year.

March 15, 2024
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