Sign up to save tools and stay up to date with the latest in AI
bg
bg
1

UBS Top Executive Says AI Is Changing How Clients Interact with Bankers

Jul 02, 2024 - techtimes.com
Artificial intelligence (AI) is transforming client interactions in banking, according to Sabine Keller-Busse, head of UBS's domestic business. The Swiss bank has seen a shift in client behavior due to AI technologies like Chat GPT, with clients approaching bankers with AI-formulated ideas and strategies. UBS has integrated AI into its services, launching a pilot program for instant credit for small and mid-sized companies, streamlining the credit process and speeding up approval times.

UBS's chief investment office views AI as one of the largest investment opportunities in human history, advising investors to ensure their portfolios are AI-enabled. The bank is optimistic about semiconductor companies benefiting from high AI investment levels and sees potential in vertically integrated oligopolies in the US and China. However, UBS warns that over-investment fears could lead to a market correction, suggesting capital preservation strategies to mitigate this risk.

Key takeaways:

  • UBS, the Swiss bank, is witnessing a significant shift in client behavior due to AI technologies like Chat GPT, and has been proactive in integrating AI into its services and products.
  • UBS views AI as one of the largest investment opportunities in human history, advising investors to ensure their portfolios are AI-enabled, and is particularly optimistic about semiconductor companies.
  • Elisabeth Austad Asser, in her doctoral dissertation, raised concerns about the potential for AI to exacerbate social inequalities and recommended responsible AI implementation in banks.
  • A report by GFT shows that US banking customers are increasingly accepting of AI in their banking experiences, with 44% of American consumers content with AI in personal banking.
View Full Article

Comments (0)

Be the first to comment!