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Press Release

AI transforming banking, reports UBS executive

Wed 3 Jul 2024

The head of UBS’ domestic business, Sabine Keller-Busse, said she is witnessing a shift in client banking interactions driven by artificial intelligence (AI).

Keller-Busse likened this shift to patients visiting a doctor with a specific ailment in mind, where clients now use AI to generate and propose ideas to the bank.

“In our industry this will happen as well because with ChatGPT there is more data available … We have to be aware that our clients are using it,” said Keller-Busse.

The Swiss bank has integrated AI into its services, launching a pilot last year for instant credit tailored to small and mid-size companies requiring liquidity. This service enables bypassing credit officers to expedite the process for this standardised product.

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