UBS says it does not permit external AI models for client transactions
UBS•UBS CEO Sergio Ermotti said the bank will not allow external AI models to execute actions for clients, citing concerns about models managing accounts or shifting deposits. UBS expects to largely conclude its Credit Suisse integration by year-end.
1. External models barred
UBS CEO Sergio Ermotti said the bank will not allow external AI models to execute actions on behalf of clients. He said UBS wants to prevent models from driving client outcomes in a “black box.”
2. Technology focus returns
Ermotti said UBS’ integration of Credit Suisse, acquired after its 2023 collapse, had slowed AI deployment somewhat. He said the integration is nearly complete, allowing the lender to put more emphasis on technology; UBS expects to largely conclude the integration by the end of this year.
