Prime Highlights :
- Major banks accelerate agentic AI adoption, with 51 percent already piloting AI agents, KPMG survey shows.
- Morgan Stanley to launch client-facing digital assistants this summer, enhancing round-the-clock client support.
Key Facts :
- UBS reports advisors now spend 70 percent of their time directly engaging with clients thanks to AI agents.
- Goldman Sachs partners with Anthropic to develop agents for trading, transaction accounting and client onboarding.
Background :
Major Wall Street banks are expanding their use of digital assistants, integrating agentic artificial intelligence into daily operations to boost productivity across wealth management, client vetting, trading and treasury functions.
A June survey by KPMG found that 51 percent of banks are already piloting AI agents, reflecting strong momentum across the industry.
Peter Torrente, United States sector leader for banking at KPMG, said the firm works with banks to map out roles across their organizations, identifying which functions suit hybrid teams, fully agentic employees or human staff.
Morgan Stanley plans to test client-facing digital assistants later this summer that will interact with clients around the clock. Koren Maranca, head of Artificial Intelligence for Wealth Management at Morgan Stanley, said the bank already uses agents to support financial advisors and is now preparing these tools to deliver reminders and recommendations tailored to client needs.
At BNY, digital employees work as full teammates, complete with login credentials, nicknames and human managers who oversee their training and performance.
Chief executive officer Robin Vince described this collaborative model on a Wall Street Journal podcast, highlighting a digital assistant named Payment Pete.
UBS reports that its agents send thousands of daily alerts to advisors, helping them act quickly on client needs such as maturing annuities. Richard James, head of AI product at UBS, said this frees advisors to spend 70 percent of their time engaging directly with clients.
Goldman Sachs has partnered with Anthropic to build agents for trading and client onboarding, while JPMorgan is exploring agentic AI for corporate treasury, and Citi is preparing to launch a virtual wealth management team member, marking a new chapter of innovation across the banking sector.
Read Also : PepsiCo Q2 Revenue Beats Estimates on Strong Beverage Demand
