Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Robot Overlord or Solution to Info Overload? M* Adopts AI  Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, April 25, 2023

Robot Overlord or Solution to Info Overload? M* Adopts AI

Reported by Andrew Lusk

The folks at a publicly traded investment research giant are tapping artificial intelligence with their latest offering.

Kunal Kapoor
Morningstar
CEO
This afternoon in Chicago, in his opening keynote session at the 2023 Morningstar Investment Conference (MIC), Morningstar CEO Kunal Kapoor introduced attendees to a new tech tool. Mo, Morningstar's AI chatbot, is in the process of debuting to investors looking to integrate more than 100,000 Morningstar data points into their analyses.

Given that investors today are "overwhelmed by data," Kapoor says, programs like Mo can help parse through the available information without forgetting any important details. Like ChatGPT (but with access to data fed exclusively from internal sources, not the internet more broadly), Mo may soon reduce some of the research-oriented grunt work advisors often do. However, Mo is not meant to replace advisors outright.

Human advisors, after all, tend to boost investors' sense of overall confidence. According to Morningstar data presented at the conference, only 21 percent of clients who do not work with an advisor say they have a strong understanding of risk management. 38 percent of those who work with an advisor say the same.

"So many folks said that older investors would not embrace technology, but that's not the case," Kapoor illustrates. "They want both: they want to sit down with their advisors, and they want their technology right next to them."

Mo takes around ten seconds to process a request. First, the program ingests and transcribes speech, then the data is transmitted to an Open AI model. From there, an answer to the prompt is generated using the Morningstar data points at hand, and Mo responds using a text-to-voice program. An animated character accompanies the text-to-voice, complete with facial expressions and body movements. Mo even wears a Morningstar red shirt featuring the company logo.

Kapoor reminds investors that Mo is imperfect and is merely intended to add new angles to financial considerations. To demonstrate the bot's capabilities, the CEO asked, "Hey Mo, what makes a good financial advisor?"

"A good financial advisor," Mo responded after a brief pause, "should offer comprehensive financial and portfolio planning and have a broad range of expertise, including tax specialists, investors, and estate planners. They should also have a certified financial planner credential and be able to add value to clients through their skills and advice."

"However, the level of fees and the investor's own skill level should also be considered," Mo added. "Ultimately, a good financial advisor will prioritize understanding a client's goals and intentions and offer personalized advice and solutions." 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q4Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. WE PNW Seattle - Holiday Party, December 3
  2. WE Boston - Women's Initiative Joint Holiday Networking Reception, December 4
  3. WE South - Wine Wednesday Holiday Celebration, December 4
  4. IDC Foundations for Fund Directors, Dec 4-5
  5. Nicsa webinar - Post-Election Insights: Impact on Global Policies, Markets, and Regulations, December 4
  6. WE Denver - 2024 Annual Holiday Party, December 5
  7. WE Washington D.C. - 2024 Holiday Dinner Event, December 5
  8. MFDF webinar - BDC Board Service 101, December 10
  9. MFDF webinar - ETF Product Trends: Board Implications, December 11
  10. MFDF webinar - Visually Mapping Board Composition: Skills Matrices in Fund Board Rooms, December 18
  11. MFDF webinar - 2024 Fair Valuation Pricing Survey: Building and Strengthening the Valuation Operating Model, January 7, 2025
  12. MFDF webinar - 15(c) White Paper Webinar Series: Part 2 – Board Processes, January 9, 2025
  13. MFDF webinar - AI and Fund Compliance, January 21, 2025
  14. MFDF In Focus - In Focus: Small Boards' Use of Skills Matrices, January 22, 2025
  15. FSI OneVoice 2025, January 27 - 29, 2025
  16. MFDF 2025 Directors' Institute, January 27 - 29, 2025
  17. 2025 ICI Innovate, February 3 - 5, 2025
  18. MFDF Director Discussion Series - Open Forum, February 10, 2025
  19. MFDF Director Discussion Series - Open Forum, February 11, 2025
  20. MFDF 2025 Fund Governance & Regulatory Insights Conference, March 6 - 7, 2025
  21. MFDF Director Discussion Series - Open Forum, April 2, 2025
  22. MFDF Director Discussion Series - Open Forum, April 15, 2025
  23. The 36th Sub-Advised Funds Forum, April 29 - 30, 2025
  24. Morningstar Investment Conference 2025, June 25 - 26, 2025
  25. MFDF Director Discussion Series - Open Forum, July 9, 2025




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use