11:38 AM EDT, 09/10/2024 (MT Newswires) -- UBS (UBS) has built an artificial intelligence tool to help offer potential merger and acquisition deals to its clients, with the tool capable of analyzing a database of more than 300,000 companies in less than 30 seconds, Bloomberg News reported Tuesday, citing a company executive.

The Swiss lender developed its own M&A "co-pilot" to develop buy-side ideas and match possible suitors in sell-side situations, the news outlet reported, citing Brice Bolinger, UBS head of M&A Switzerland. The tool is also designed to identify potential targets of activist investor campaigns by comparing the management tone of prepared presentations and Q&A situations, according to the report.

However, UBS didn't see satisfactory results from tests of AI-powered tools to support company evaluations, benchmarking and financial analysis, Bolinger reportedly said.

UBS didn't immediately respond to MT Newswires' request for comment.

The company's shares were down 1.9% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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