Morgan Stanley – Digital Transformation Strategies
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Morgan Stanley Digital Transformation Strategies Overview
Morgan Stanley is utilizing AI and machine learning to improve its wealth and asset management operations and other operational processes. AI, big data, cloud, and blockchain are among the key technologies under focus for the company. The annual ICT spending of Morgan Stanley was estimated at $4.6 billion in 2023. A major share of this spending is earmarked for acquiring software, ICT services, and network and communications from vendors.
Morgan Stanley is utilizing AI and machine learning to improve its wealth and asset management operations and other operational processes. It uses machine learning to understand its client’s needs and drive actionable insights. Morgan Stanley has deployed machine learning algorithms to optimize content creation through personalized offerings using the Lucidworks Fusion platform.
The ‘Morgan Stanley Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. The information included in these reports is sourced from a mix of our very own internal database and authentic secondary research links such as the company’s annual report, presentations, press releases, etc. The report covers an overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, partnerships, acquisitions, and ICT spending among others.
Total ICT Spending 2023 | $4.6 billion |
ICT Spend by Function | Network, Application, Data Center, Management, End-User Computing, Communications, and Service Desk |
ICT Spend by Channel | Internal Development and Maintenance, Technology Vendors (Direct), ICT Services Providers/Consulting Firms, Telcos, Local Resellers, Specialist Outsourcers, and Systems integrators |
External ICT Spend by Segment | Software (including Cloud SaaS), ICT services, Network and communications, Hardware (including Cloud Iaas), Consulting, and Others |
Technology Theme Focus | Artificial Intelligence, Big Data, Blockchain, Cloud, and Payments |
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Digital Transformation Strategies
Morgan Stanley is utilizing AI and machine learning to improve its wealth and asset management operations and other operational processes. In a bid to increase the prospecting success of its financial advisors and empower them to answer complex customer queries across multiple platforms, the bank is using the Yext platform, to create and manage the business pages and digital presence of its financial advisors. To strengthen its AI capabilities, it has recruited data science experts for advisory positions. In 2023, Morgan Stanley introduced AI @ Morgan Stanley Assistant to help its financial advisers better guide their clients through personalized insights. The AI tool allows financial advisers to quickly access research papers and documents to deliver the right information for each client.
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Morgan Stanley Technology Theme Focus
Morgan Stanley is tapping into the power of key disruptive technologies to enhance its operational and service capabilities. AI, big data, cloud, and blockchain are among the key technologies under focus for the company.
Morgan Stanley Technology Theme Focus
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Morgan Stanley Technology Initiatives
Morgan Stanley has been involved in several strategic technology partnerships and collaborations, technology rollouts, and acquisitions over the past few years. For instance, Morgan Stanley Wealth Management (MSWM) entered a strategic partnership with artificial intelligence research and deployment lab OpenAI, to provide its financial advisors with a virtual assistant that leverages AI-based OpenAI’s GPT-4 technology. The assistant provides access to the company’s intellectual database, thereby reducing advisers’ time spent on documentation and administration processes and providing them with additional time for client interactions. Under this partnership, the wealth managers will use OpenAI’s technology to access, process, and synthesize content to deliver integrated insights to various companies, sectors, asset classes, capital markets, and regions worldwide.
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Morgan Stanley ICT Spend by Function
- Network
- Application
- Data Center
- Management
- End-user computing
- Communications
- Service desk
Morgan Stanley ICT Spend by Function, 2023(%)
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Morgan Stanley ICT Spend by Channel
- Internal development and maintenance
- Technology vendors (direct)
- ICT services providers/Consulting firms
- Telcos
- Local resellers
- Specialist outsourcers
- Systems integrators
Morgan Stanley ICT Spend by Channel, 2023(%)
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Morgan Stanley External ICT Spend by Segment
- Software (including Cloud SaaS)
- ICT services
- Network and communications
- Hardware (including Cloud Iaas)
- Consulting
- Others
Morgan Stanley External ICT Spend by Segment, 2023(%)
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Scope
This report provides:
- Insight into Morgan Stanley’s technology activities.
- Overview of technology initiatives covering product launches, partnerships, investments, and acquisitions.
- Insights on each technology initiative including technology theme, objective, and benefits.
- Details of estimated ICT budgets.
Reasons to Buy
- Gain insights into Morgan Stanley’s technology operations.
- Gain insights into its technology strategies and innovation initiatives.
- Gain insights into its technology themes under focus.
- Gain insights into its various product launches, partnerships, investments, and acquisitions.
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Table of Contents
Frequently asked questions
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What was the total ICT spending of Morgan Stanley in 2023?
The annual ICT spending of Morgan Stanley was estimated at $4.6 billion in 2023.
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Which function accounted for the highest ICT spending for Morgan Stanley in 2023?
Network accounted for the highest ICT spending by function for Morgan Stanley in 2023.
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Which channel accounted for the highest ICT spending for Morgan Stanley in 2023?
Internal development and maintenance accounted for the highest ICT spending by channel for Morgan Stanley in 2023.
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Which segment accounted for the highest external ICT spending for Morgan Stanley in 2023?
Software accounted for the highest external ICT spending by segment for Morgan Stanley in 2023.
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What are the key technology themes in focus for Morgan Stanley?
AI, big data, blockchain, cloud, and payments are the key technological themes in focus for Morgan Stanley.
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