UBS Explores AI for Trading Functions, Real-Time Transcriptions

The investment bank is completing a proof-of-concept with Cloud9, aiming to automate front-office functions.

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UBS is exploring the use of artificial intelligence (AI) to help automate front-office functions.

The Swiss bank is in the final stages of a proof-of-concept, working with Cloud9, a provider of trader workflow and communication technologies, to develop virtual turrets and offer real-time transcriptions of conversations between traders and clients.

Following a UBS breakfast briefing on innovation on September 10, Chris Purves, head of the investment bank’s strategic development labs, said that

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