Fintech & Ecommerce

Morgan Stanley and Stripe Tap Into OpenAI’s GPT-4

Morgan Stanley Wealth Management and payment giant Stripe have announced their intention to use a chatbot based on artificial intelligence GPT-4 from OpenAI.

Morgan Stanley and Stripe Tap Into OpenAI's GPT-4

Source: Pixabay.com

Morgan Stanley Wealth Management will use the state-of-the-art artificial intelligence model to access, process, and synthesize content to assimilate its intellectual capital in the form of information about companies, sectors, asset classes, capital markets, and regions around the world. Financial advisors and their teams will use the opportunity to ask questions and view large amounts of content and data. The answers will be provided in a format that is as accessible as possible for understanding.

The Bank said that the volume of interaction on requests will improve customer service.

Andy Saperstein, co-chairman and head of Morgan Stanley Wealth Management, stated his desire to turn OpenAI’s breakthrough technology into a competitive advantage. He also says that this technology significantly increases the value of extensive intellectual capital.

Stripe with GPT-4 will improve the documentation so that developers can make queries in natural language in Stripe Docs. The chatbot responds to requests by summarizing certain parts of the documentation or extracting individual blocks of information. Thanks to this solution, developers spend less time reading and can focus on creating products without being distracted by secondary tasks.

Stripe has also signed a payment connection deal for OpenAI, which is moving towards the commercialization of ChatGPT and DALL·E generative AI technologies.

GPT-4 can process more than 25 thousand words while interacting with users. The new model differs from its predecessor, which is GPT-3.5, with a lower degree of probability of false answers and unreasonable assessments on certain issues.

As we have reported earlier, Stripe Expects to See $1 Trillion in Payments Volume in 2023.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.