financetom
Business
financetom
/
Business
/
AI is changing banking, UBS executive says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
AI is changing banking, UBS executive says
Jul 2, 2024 5:48 AM

ZURICH (Reuters) - UBS is seeing a shift in the way clients are interacting with their bankers powered by artificial intelligence, the head of the Swiss bank's domestic business Sabine Keller-Busse said on Tuesday.

She likened the shift to the way in which patients go to the doctor's with a picture of their ailment in mind, with clients using AI to come up with ideas they are then proposing to the bank.

"In our industry this will happen as well because with Chat GPT there is more data available," Keller-Busse said at the Point Zero Forum in Zurich. "We have to be aware that our clients are using it."

The Swiss bank has been weaving artificial intelligence into the services and products it offers its clients, going live last year with a pilot for instant credit geared towards small and mid-size companies which often have an urgent need for liquidity.

That service makes it possible to bypass credit officers and speed up the process for the relatively standard product, she said.

"It's just the beginning of what we will see," Keller-Busse said.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
PepsiCo Unusual Options Activity
PepsiCo Unusual Options Activity
Jun 11, 2024
Financial giants have made a conspicuous bullish move on PepsiCo ( PEP ). Our analysis of options history for PepsiCo ( PEP ) revealed 11 unusual trades. Delving into the details, we found 63% of traders were bullish, while 18% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $149,000, and 7...
Why BioSig Technologies (BSGM) Shares Are Down Over 60%
Why BioSig Technologies (BSGM) Shares Are Down Over 60%
Jun 11, 2024
BioSig Technologies ( BSGM ) shares are trading lower by 67% to $0.55 during Tuesday’s session after the company said it was notified by the Nasdaq Hearings Panel that its common stock will be delisted from the Nasdaq Stock Market due to non-compliance with the minimum stockholders’ equity requirement. Consequently, trading of the company’s stock will be suspended on Nasdaq...
First Phosphate Files Final Short-Form Base Shelf Prospectus
First Phosphate Files Final Short-Form Base Shelf Prospectus
Jun 11, 2024
01:48 PM EDT, 06/11/2024 (MT Newswires) -- First Phosphate ( FRSPF ) said Tuesday it filed and received a receipt for its final short-form base shelf prospectus. The company plans to use the shelf prospectus to raise funds for the feasibility study for its eventual integrated production from mine to lithium iron phosphate cathode active material if equity market conditions...
Affirm Stock Rallies on Apple Pay Partnership; Doesn't See Material Fiscal 2025 Revenue Impact
Affirm Stock Rallies on Apple Pay Partnership; Doesn't See Material Fiscal 2025 Revenue Impact
Jun 11, 2024
01:49 PM EDT, 06/11/2024 (MT Newswires) -- Shares of Affirm (AFRM) soared Tuesday after the consumer lending company that offers buy now, pay later services at e-commerce checkouts announced an integration with Apple Pay, though it doesn't expect the partnership to have a material top-line impact in fiscal 2025. Apple ( AAPL ) users in the US will be able...
Copyright 2023-2026 - www.financetom.com All Rights Reserved