A digital signage at Morgan Stanley’s Times Square headquarters in New York, USA, on Friday, January 12, 2016.
John Taggart | Bloomberg | Getty Images
Morgan Stanley According to CNBC, the bank promoted a technology executive from its wealth management department to its first company-wide head of artificial intelligence.
Banks are stepping up Jeff MacMillanVeterans of the New York-based bank will help guide its efforts across the company, according to a memo Thursday from co-presidents Andy Saperstein and Dan Simkowitz. Implement artificial intelligence.
Last year, Morgan Stanley became the first major Wall Street firm to create a solution for employees based on OpenAI’s GPT-4, a project overseen by McMillan.
The move shows the growing importance of artificial intelligence in financial services, triggered by the rapid rise of generative artificial intelligence tools that can produce human-like responses to queries.
Despite widespread layoffs at Wall Street firms last year, they participated To fill thousands of artificial intelligence positions, employees are poached from each other.
June, J.P. Morgan named Teresa Heitsen serves as chief data and analytics officer, responsible for the adoption of artificial intelligence.exist Goldman SachsChief Information Officer Marco Argenti is seen as a leading advocate of artificial intelligence.
Read Morgan Stanley’s full memo announcing MacMillan’s new role:
We’re excited to announce that Jeff McMillan has taken on the new role of head of company-wide AI, reporting jointly to us.
Jeff previously led Wealth Management’s analytics, data and innovation organization, playing a key role in driving technology developments in Wealth Management, from our modern wealth management platform to most recently our groundbreaking collaboration with our exclusive partner OpenAI.
In his new role, Jeff will coordinate across the company to ensure we have appropriate AI strategy and governance in place. In this process, he will work with business units and infrastructure areas to identify and prioritize AI opportunities; help position the company in the AI development process across the industry and ensure that Morgan Stanley continues to be a leader in AI. Respected innovator.
To execute our AI strategy, Jeff will work closely with Mike Pizzi, head of US banking and technology, Sid Visentini, head of corporate strategy, and Katy Huberty, global head of equity research. Katy and Jeff will co-chair the company-wide Artificial Intelligence Steering Group, which is composed of business unit and infrastructure representatives.
Please join us in congratulating Jeff on his new role.
