Morgan Stanley CEO says AI could save financial advisers 10-15 hours a week

Morgan Stanley's incoming CEO Ted Pick poses for a portrait in New York City, U.S., December 21, 2023. REUTERS/Jeenah Moon/File Photo

NEW YORK (Reuters) - The use of artificial intelligence (AI) could save Morgan Stanley's financial advisers between 10 and 15 hours a week, the bank's CEO Ted Pick told investors at a conference on Monday.

"This is potentially really game-changing," Pick said, adding that the bank's tool to transcribe and enter notes from client meetings into a database could boost advisers' productivity.