At this year’s Evident AI Symposium in NYC, thought leaders from Morgan Stanley, Wells Fargo, and more shared how AI is transforming knowledge creation and revenue generation in the financial industry.

David Wu (Head of Firm-wide AI Product & Architecture Strategy, Morgan Stanley) discussed the importance of deploying AI tools to employees who are most adjacent to clients. Morgan Stanley began with Wealth Management, where advisors focus on deepening client relationships and fostering trust. AI tools now enable advisors to quickly address client queries and improve client experiences. David also noted how these capabilities are being extended to Investment Banking, Sales & Trading, and Investment Research teams, providing self-serve insights and boosting efficiency. However, he emphasized that maximizing these tools requires retraining how users process information, shifting away from traditional keyword-based approaches.

Chintan Mehta (CIO of Digital Innovation & Strategy, Wells Fargo) highlighted the bank's customer-facing AI product, Fargo, an NLP/LLM-powered platform that has been operational for 1.5 years, enabling agentic, transactional interactions. Internally, Wells Fargo uses Tachyon, a platform focused on operational efficiency. Chintan noted that AI adoption creates new interactions, revealing fascinating insights about how users grow comfortable with the technology. He pointed out that adoption patterns—incremental vs. all-at-once—are crucial to understanding AI’s broader impact. Chintan likewise emphasized the unexpected benefits of “ensemble modeling,” which often reveals value beyond an AI application’s original use case.

Rogo CEO Gabe Stengel joined the panel to share how GenAI is reshaping productivity in investment banking, predicting that efficiency gains could double the output of entry-level analysts over the next five years.

"Knowledge drives productivity, but insights drive revenue. When you think about your highest earning employees, you need to ask: How do you make them higher leverage to produce insights that are actually actionable?"

We're thankful to our partners at Evident AI, Bloomberg, and co-panelists David Wu, Chintan Mehta, Sid Khosla, and Kristin Milchanowski for the dynamic discussion. The symposium, attended by over 300 professionals and thousands more online, brought together thought leaders to discuss real-world applications of AI in banking and beyond. 

For those who missed it, you can catch the full panel below ("The Insight Machine" panel begins at 2:07:45):