Morgan Stanley CEO Ted Pick advocates for artificial intelligence in the bank's wealth business, emphasizing time-saving benefits for financial advisers.

The firm's AI tool transcribes client conversations and tailors investment products to clients' needs.

Morgan Stanley is developing AI-powered virtual assistant tools and testing a generative AI chatbot.

Strategic focus includes cybersecurity and infrastructure controls to maximize cost benefits and efficiency gains from AI.

Ted Pick sees AI as a driver of productivity and operational enhancements, with plans to maintain dividends and consider stock buybacks based on share prices.

Investor confidence in Morgan Stanley's AI strategy is evidenced by a 12% stock increase over the past year.

Continued high interest rates in the U.S. are expected to boost business opportunities in trading and lending to high net worth clients.