'The truth is, this does a better job of taking notes than the average human'
Morgan Stanley is planning to roll out a new AI-powered assistant for its roughly 15,000 financial advisors, according to reports.
The AI tool, named Debrief, will be able to sit in on advisors' client meetings on Zoom provided that the client consents to being recorded each time Debrief is used.
Debrief is expected to replace the note-taking task that advisors do, CNBC reported. Among its responsibilities include keeping a detailed log of advisors' meetings and automatically drafting emails and summaries of the discussions.
A pilot run has been launched ahead of the AI tool's widespread rollout across the organisation, and reported feedback appears positive.
Jeff McMillan, Morgan Stanley's head of firmwide artificial intelligence, said they're finding the quality and depth of Debrief's notes to be "significantly better."
"The truth is, this does a better job of taking notes than the average human," McMillan told CNBC.
One financial advisor also involved in the pilot told CNBC that the tool helps them save 30 minutes of work per meeting.
It also keeps them "a lot more present" in the meeting, the advisor added.
The early feedback regarding the programme offers a concrete example on how AI-powered tools can save employees a lot of time at work, as cited by previous research.
McMillan, however, noted that it might take at least a year to determine whether the technology is improving advisors' productivity, according to CNBC.
