The article discusses how Morgan Stanley’s head of artificial intelligence (AI) strategy, Shawn Snyder, evaluates and implements new AI solutions for the financial services firm. Snyder emphasizes the importance of understanding the business problem first before exploring AI solutions. He looks for AI models that can provide explainable and interpretable results, as the financial industry requires transparency and accountability. Snyder’s team focuses on areas where AI can augment human decision-making rather than fully automating processes. They prioritize use cases with high potential impact and scalability across the firm. The vetting process involves assessing data quality, model performance, and potential risks. Snyder also highlights the need for responsible AI practices, including bias testing and model monitoring. The article provides insights into how a major financial institution approaches AI adoption while navigating regulatory and ethical considerations.
Source: https://www.businessinsider.com/how-morgan-stanley-ai-leader-vets-new-solutions-2024-11