AI Revolutionising Banking, According to UBS Executive
Updated: Aug 26
UBS is witnessing an AI-driven transformation in client-banker interactions. Clients use AI to generate and offer ideas to the bank. UBS has integrated artificial intelligence into its services, including a trial programme for rapid credit.
Sabine Keller-Busse, head of UBS's domestic business, emphasised this trend in her remarks at the Point Zero Forum in Zurich on Tuesday.
Keller-Busse drew a parallel between patients visiting doctors with a specific ailment in mind and clients using AI to generate ideas that they then propose to the bank. She emphasised that the availability of more data, particularly with the use of Chat GPT, is driving this change in the banking industry. "We have to be aware that our clients are using it," she stated.
UBS has been actively incorporating AI into its services and products, including a pilot programme for quick credit that debuted last year. This effort is primarily aimed at small and medium-sized businesses that frequently require immediate funding. UBS may improve the credit approval process by employing AI, eliminating the need for credit officers and speeding up the delivery of this critical financial product.
According to Keller-Busse, this is only the beginning of what is ahead.
UBS is witnessing a shift in client-banker interactions driven by AI.
Clients are using AI to generate ideas and propose them to the bank.
UBS has integrated AI into its services, including a pilot program for instant credit.
Source: REUTERS
