Morgan Stanley is betting on a future where people may no longer need to log into software platforms to get work done. Instead, the financial services giant wants AI agents to access its systems, collect information, and complete tasks on behalf of users. Moreover, the company has reportedly already begun allowing the clients to connect AI agents directly to the firms’ stock administration platforms, notably the ShareWorks and Equity Edge. Rather than opening websites and navigating dashboards themselves, the users could now simply rely on AI tools to find data, answer questions, and carry out routine work.
Mark Mitchell, the Chief Product Officer of Morgan Stanley at Work, said that the clients ‘use agentic AI-powered tools on their desktops within the four walls of their companies, interacting with our platforms in a purely agentic way.’
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CNBC also reported that Morgan Stanley has already provided the AI capabilities to a small group of clients as early access and plans to make it available to all 3,400 administration clients over the next year. According to the reports, the company is using the Model Context Protocol (MCP) to support these connections. The open-source standard allows AI models to access external data sources and systems securely, making it easier for AI agents to retrieve information and perform tasks.
The financial services giant thinks the tech will help companies handle more complex stock plans without hiring a lot more people. So they don’t need to expand their workforce much to get it done. Fast-growing technology and biotechnology firms often need additional support staff to handle these responsibilities. The bank argues that AI agents can take over some of that work, helping companies scale operations more efficiently.
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Mitchell said AI could help the firm expand customer support, plan administration, and wealth management services without hiring thousands of additional employees. The shift marks a significant change in how software companies think about their products. For years, businesses tried to get users to visit their sites and apps. However, now Morgan Stanley thinks AI agents will be what people mainly use, making traditional software less important.
The bank started working with OpenAI in 2022, so they’re not the only ones looking into this agentic AI stuff. Rivals including JPMorgan Chase and Goldman Sachs are already using AI tools internally, though they have not announced similar plans for external AI agent access.