AI at UBS – Current Applications and Initiatives
AI at UBS – Current Applications and Initiatives where among 100 top banks UBS is a Swiss multinational investment banking and financial services company ranked 30th on S&P Global’s list and the company is looking to improve its tech stack through several AI projects.
Artificial Intelligence Opportunity Landscape research in financial services uncovered the following three AI initiatives at UBS:
Virtual Financial Assistant with Digital Avatar:
UBS’ virtual assistant project developed by a third party and ORCA ML for Foreign Liquidity Gaps: An internally developed ML platform for automatically solving gaps in foreign exchange liquidity, AI-enabled enterprise search using natural language processing (NLP) customized for financial services and investment banking for Cognitive Search for Wealth Management and Investment Banking
UBS partnered with IBM and Digital Humans (formerly FaceMe) to create a virtual financial assistant for its customer and its conversational interface built with IBM’s Watson Natural Language Understanding solution. Watson runs primarily on natural language processing technology for Virtual Financial Assistant with Digital Avatar
UBS also started an internal initiative on ORCA Machine Learning for Foreign Liquidity Gaps with the goal of solving liquidity issues within foreign exchange using machine learning and the bank announced and its ORCA direct solution, which purportedly helped its employees execute foreign exchange transactions more quickly.
In Cognitive Search for Wealth Management and Investment Banking, UBS’ third AI initiative is their partnership with vendor Attivio to develop an NLP-enabled search engine for their wealth management, asset management, and investment banking services.
Financial Services Leaders- companies need to understand what the competitors are doing with AI if they hope to compete in the same domains.
