UBS is experiencing a transformation in client interactions driven by artificial intelligence, according to Sabine Keller-Busse, head of the Swiss bank's domestic business.
Speaking at the Point Zero Forum in Zurich on Tuesday, Keller-Busse compared this shift to how patients approach doctors with preformed ideas about their ailments, now clients are using AI to generate proposals for the bank.
"In our industry, this will happen as well because with Chat GPT there is more data available," Keller-Busse remarked. "We have to be aware that our clients are using it."
UBS has been integrating artificial intelligence into its services and products. Last year, the bank launched a pilot for instant credit targeted at small and mid-sized companies that often require quick access to liquidity.
This AI-driven service streamlines the process by bypassing credit officers, making it faster for clients to obtain the relatively standard product.
"It's just the beginning of what we will see," Keller-Busse added, indicating that AI's role in banking is set to expand further.
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