State Street tested a generative AI chatbot called Alpha Co-Pilot that would allow institutional clients to ask natural language questions about their portfolio data, trade status, documentation, and economic indicators.

State Street developed a beta version of the Alpha Co-Pilot, a generative AI interface built into its Alpha platform — the central data repository for custody clients. The tool allows clients to ask conversational questions such as querying portfolio exposures, building data scenarios on the fly, and summarizing documents. As of December 2023, it was running on mocked-up data without a confirmed release date, partly due to unresolved legal and hallucination concerns. State Street also separately tested a generative AI chatbot for its research site, which tracks approximately 1.8 million economic indicators daily; early tests showed the bot answering questions better than the existing helpdesk within weeks.