OpenAI launches 'safer' AI, GPT-4; Morgan Stanley one of its first customers
By Wallace Witkowski
Artificial-intelligence research company OpenAI launched a new AI model, GPT-4, Tuesday, and investment firm Morgan Stanley will be one of its first users to assist financial advisers.
Among other things, GPT-4 surpasses its widely known ChatGPT app and provides "safer, more useful responses," using human feedback, including from users, to improve the AI's behavior.
"We spent six months making GPT-4 safer and more aligned," OpenAI said on its website. "GPT-4 is 82% less likely to respond to requests for disallowed content and 40% more likely to produce factual responses than GPT-3.5 on our internal evaluations."
Back in January, privately held OpenAI was valued at around $29 billion and was reportedly looking to sell at least $300 million in shares.
Coinciding with Tuesday's launch, Morgan Stanley (MS) announced it is "currently the only strategic client in wealth management receiving early access to OpenAI's new products," and "one of a handful of GPT-4 launch organizations."
Morgan Stanley said its wealth management unit will use GPT-4 "to access, process and synthesize content to assimilate MSWM's own expansive range of intellectual capital in the form of insights into companies, sectors, asset classes, capital markets and regions around the world."
"Designed specifically for and by Morgan Stanley with appropriate controls, financial advisers and their teams will use the internal capability to ask questions and contemplate large amounts of content and data, with answers delivered in an easily digestible format generated exclusively from MSWM content and with links to the source documents," Morgan Stanley said, stressing that "trust-based relationships and human advice will always be valued."
Recently, Microsoft Corp. (MSFT), a major investor in OpenAI, almost stole the show during Nvidia Corp(NVDA) earnings with the popularity of OpenAI's ChatGPT model. OpenAI said that GPT-4 was trained on Microsoft's Azure AI supercomputers.
Other major names adopting GPT-4 include Duolingo Inc. (DUOL), mobile payments company Stripe and the government of Iceland.
Nvidia, a major supplier of graphic processing units used to run cloud servers and artificial-intelligence models, said earlier in the month that AI will ultimately save companies more money.
Also on Tuesday, CFRA analyst Kenneth Leon upgraded both Morgan Stanley and Goldman Sachs Group (GS) to strong buy ratings because the "exposure to unrealized losses on assets held to maturity is immaterial" at both firms.
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March 15, 2023 08:24 ET (12:24 GMT)
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