UBS says it does not permit the use of external AI models for client transactions
UBS•UBS CEO Sergio Ermotti said the bank will not allow external AI models to execute actions on behalf of clients, citing concerns about models driving client outcomes in a “black box.” He said the integration of Credit Suisse, acquired in 2023, had slowed UBS’s AI deployment, but the bank can now put more emphasis on technology.
1. Limits on external AI
UBS will not allow external AI models to execute actions on behalf of clients, CEO Sergio Ermotti said. He said the bank would not let models enter the bank and manage client accounts or shift and optimize deposits, and stressed the need to avoid models driving client outcomes in a “black box.”
2. Technology focus
Ermotti said UBS’s integration of Credit Suisse, which it acquired in 2023, forced it to slow its AI deployment somewhat. With the integration almost over, he said, the bank can put more emphasis on technology to improve its effectiveness and efficiency.
