Morgan Stanley Uses Generative AI to Modernize Legacy Code

Morgan Stanley has long relied on legacy code systems built decades ago, whose maintenance and modernization require substantial labor while affecting financial-service stability and risk controls. Technology executive Michael Pizzi is using Generative AI to help engineers understand old code, making the initiative a notable example of how banks can modernize core systems.

Morgan Stanley recently disclosed that its internal DevGen.AI platform is using OpenAI's GPT models to analyze and rewrite legacy code, accelerating system modernization. Some 98% of employees across the company now have access to various AI tools. Reports did not disclose when the platform was introduced, how much Morgan Stanley invested or how much code has been converted.