UBS is expanding its workforce in one of the few areas in banking where demand for talent is growing.
''We’re currently recruiting more people for artificial intelligence,” Veronica Lange, head of innovation at Switzerland’s biggest bank, said in an interview in Moscow. “These are data scientists, architects, business analysts.”
Bloomberg News reports that AI refers to technology capable of performing tasks that normally require human intelligence. Big global banks like UBS are using it to scour vast databases for insight on customers and markets that could help lenders stay competitive as more and more technology firms delve into financial services.
UBS rolled out a robo-adviser last year that uses algorithms to help customers build and manage portfolios with little or no human interaction. Credit Suisse introduced a similar digital advisory platform in Hong Kong and Singapore in July.
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