UBS’ latest AI push may lead to robots invading trading world

Whereas many banks have already been replacing back-office staff with robots, UBS seeks to implement AI solutions in front-office roles, with robots to perform tasks related to trading strategy optimization. The fact that an increasing number of financial services companies are using artificial intelligence (AI) solutions in back-office roles is now barely surprising. But UBS AG (SWX:UBSN) is taking this trend further and is exploring further application areas of AI in its front-office. According to a report by the Financial Times, the Swiss bank is about to take robots to trading floors. The company has shown how two AI solutions can assist traders in enhancing their performance. The first program, developed in collaboration with Deloitte, deals with clients’ post-trade allocation requests. The program scans for clients’ emails describing how they…

Link to Full Article: UBS’ latest AI push may lead to robots invading trading world

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