American multinational investment banking giant Morgan Stanley has appointed a lead for its Artificial Intelligence (AI) Division.\u00a0<\/span><\/p>\n Jeff McMillan, one of Morgan Stanley\u2019s tech executives, specifically from its wealth management team, has been promoted to head the firm\u2019s AI unit. Notably, the New York-based bank made this move as part of its plans to implement AI across its business in sync with its <\/span>blooming growth strategy<\/span><\/a>.\u00a0<\/span><\/p>\n <\/p>\n \u201cWe are pleased to announce that Jeff McMillan has assumed a new position as Head of Firmwide Artificial Intelligence, co-reporting to us,\u201d Morgan Stanley itemised in the memo that was sent from co-presidents Andy Saperstein and Dan Simkowitz.<\/span><\/p>\n Before now, McMillan was the lead for Wealth Management\u2019s Analytics, Data and Innovation organization. As the head, he played a huge role in driving the institution\u2019s technological evolution, \u201cfrom the Modern Wealth Management platform to most recently our groundbreaking work with our exclusive partner, OpenAI.\u201d<\/span><\/p>\n <\/p>\n The new Morgan Stanley AI head\u2019s responsibility will include coordination across the firm to ensure that the firm is equipped with the appropriate AI governance and strategies. McMillan will still be required to collaborate with the firm\u2019s business unit to identify and prioritize AI-driven opportunities. Ultimately, Morgan Stanley\u2019s intention is to continue to push the frontiers in AI as well as with other innovative technologies.\u00a0<\/span><\/p>\n <\/p>\n Morgan Stanley is one of the few Wall Street firms that has demonstrated open-mindedness towards AI. In 2023, it created a solution for its employees based on OpenAI\u2019s GPT-4, making it the first major Wall Street firm to offer such an innovative tool. It is worth noting that this project was overseen by McMillan at the time.\u00a0<\/span><\/p>\n <\/p>\n Morgan Stanley\u2019s AI move suggests that Wall Street may be warming up to the idea of having AI and its tools established in the arena. Many other jurisdictions and organizations including top financial service providers, game developers and tech firms, are also becoming more receptive towards AI amidst conversation on the prospects of the generative technology.\u00a0<\/span><\/p>\n One of the pioneers is Cognition Labs, a startup that just released the first <\/span>AI software engineer dubbed Devin<\/span><\/a>. This AI model has the capacity to perform autonomous coding and also fine-tune its AI models. <\/span>Google\u2019s Genie<\/span><\/a> was also launched as a new revolution in the game design landscape.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n –><\/p>\n –><\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <!– <\/p>\nJeff McMillan Tapped to Lead AI Unit<\/strong><\/h2>\n
Morgan Stanley to Grow AI Presence\u00a0<\/strong><\/h2>\n
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