Morgan Stanley's CEO Ted Pick announced that artificial intelligence could potentially save the bank's financial advisers 10 to 15 hours per week by automating tasks such as transcribing and entering notes from client meetings. This AI tool is expected to significantly boost adviser productivity and help tailor investment strategies to better meet the needs of wealthy clients. 

Pick also predicted that high interest rates in the U.S. will continue, aligning with views from leaders at JPMorgan Chase and Goldman Sachs, and noted that this environment could benefit the bank's trading and market-making activities. 

Morgan Stanley plans to expand its lending to high-net-worth clients through more advanced financial products as deposits increase. Pick emphasized the bank’s commitment to maintaining its dividend while suggesting that stock buybacks would be influenced by market conditions. 

Finsum: By using AI to boost productivity this extra time could be devoted to deepening client relationships or new client adoption.