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OpenAI and Morgan Stanley Launch AI Tool to Automate Junior Analyst Work
OpenAI, in collaboration with Morgan Stanley (MS) and Evercore (EVR), has rolled out a version of ChatGPT designed for financial services. The tool aims to automate research and pitch book tasks typically handled by junior analysts, with OpenAI stating it will enhance productivity rather than eliminate jobs. Morgan Stanley's investment banking revenue surged 58% to $2.44 billion in Q2 2026. Meanwhile, Evercore's stock has fallen 16% year-to-date, signaling that markets are already factoring in potential AI-driven fee pressure on advisory firms.
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