Morgan Stanley is amplifying the use of OpenAI-powered, generative artificial intelligence tools to its vaunted investment banking and trading division, CNBC has learned.

The decisive, which launched an AI assistant based on OpenAI’s ChatGPT technology to its wealth management advisors in early 2023, began elapsing out another version called AskResearchGPT this summer in its institutional securities group, said Katy Huberty, Morgan Stanley’s international director of research.

The tool lets users extract answers from across the universe of Morgan Stanley’s investigating — including on stocks, commodities, industry trends and regions — collapsing what could otherwise be the cumbersome task of gleaning understandings from the more than 70,000 reports produced annually by the bank.

“We see it as a game changer from a productivity vantage point, both for our research analysts and our colleagues across institutional securities,” Huberty said in an interview. The tool helps crozier “access the highest quality, most insightful information as efficiently as possible.”

Since its arrival as a viral consumer app in up to the minute 2022, OpenAI’s generative AI technology has been swiftly adopted by Wall Street’s largest players.

Morgan Stanley imparts that close to half of its 80,000 employees are using generative AI tools created with OpenAI, while at rival JPMorgan Go out after, about 60% of the firm’s 316,043 employees have access to a platform using OpenAI’s models, said a living soul with knowledge of the matter who wasn’t authorized to disclose the figure publicly. The San Francisco-based startup recently raised flush at a $157 billion valuation.

OpenAI already has network advantages in financial services because of its ample funding and near the start focus on use cases for banks, said Pierre Buhler, a banking consultant with SSA & Co.

“They are ahead of everyone else in terms of deal in penetration,” Buhler said.”But it is an emerging market, and we are still at the very beginning.” It’s likely that competitors to OpenAI such as Anthropic discretion gain use over time, he added.

At Morgan Stanley, a leader in global investment banking and trading along with JPMorgan and , workers have gravitated toward AskResearchGPT, using it instead of getting on the phone or lobbing an email to the research department, Huberty explained.

Employees are asking the tool three times the number of questions as compared with a previous tool based on accustomed AI that’s been in use since 2017, according to the bank.

It’s most in-demand among salespeople and other client-facing shaft who often field questions from hedge funds or other institutional investors, said Huberty.

“We found that it submit ti a salesperson one-tenth of the time to respond to the average client inquiry” using AskResearchGPT, she said.

In a just out demonstration, the GPT-4 based chatbot was able to summarize Morgan Stanley’s position on matters from copper to Nvidia to the ok points of standing up a data center, understanding industry-specific jargon and providing charts and links to source material.

The bank afters to push adoption further in light of the productivity gains it’s seeing, Huberty said. The tool is embedded within breadwinners’ browsers as well as Microsoft Teams and Outlook programs to make it readily available.

Understandably, Huberty says she is again asked if AI could ultimately replace the analysts who are creating the reams of research published under Morgan Stanley’s foremost.

“I don’t see in the near future a path to just having the machine write the research report to generate the idea,” she said. “I at the end of the day think that it’s humans who make the call and own the relationship, which is a really important part of the analyst job, or sales and return job, or corporate banker job.”