Increasing producitivty with AskResearch
Morgan Stanley was one of the early adopters in finance using OpenAI. I worked within a product team to implement this to an existing chat bot with a KPI of reducing hours across the business for analysts.
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Overview
AskResearch is an AI-powered chatbot developed for Morgan Stanley to assist analysts by providing quick, accurate answers to research-related queries. The goal was to reduce the time spent manually searching through reports and databases, ultimately streamlining workflows and boosting productivity for the research team.
Problem
Analysts at Morgan Stanley were spending significant amounts of time searching for research materials, navigating vast databases, and dealing with repetitive queries. This manual process led to inefficiency and frustration, taking time away from more valuable tasks like analysis and client support.
Approach
To address this, we facilitated workshops with analysts to identify the most frequent queries and common workflow bottlenecks. We conducted user testing and behavior analysis to ensure that AskResearch would respond quickly and accurately to a variety of queries. The chatbot was designed to integrate seamlessly into the existing research workflow, offering both voice and text capabilities, and personalized responses based on previous interactions. Iterations were refined based on continuous feedback from a dedicated group of analysts during the testing phase.
Outcome
The implementation of AskResearch resulted in significant improvements in efficiency. Analysts reported being able to retrieve information up to 3x faster, and the chatbot handled over 60% of common queries autonomously, allowing analysts to focus on higher-value tasks.
Impact
AskResearch led to measurable improvements in productivity, with a noticeable reduction in manual search time for analysts. This not only saved time but also helped improve accuracy and consistency in the information provided to clients. By utilizing AI to handle routine queries, Morgan Stanley analysts were empowered to dedicate more time to complex, strategic analysis.