Sign in Subscribe
Artificial intelligence

UBS Employs AI Avatars to Enhance Client Interaction and Boost Efficiency

Strategic Insights

— 1 min read

UBS has introduced artificial intelligence-driven avatars to boost its analysts' productivity and meet increased client demand for video-based research. The Zurich-based bank is utilizing OpenAI and Synthesia models to create AI-generated scripts and avatars of its analysts, allowing them to focus on more in-depth research and client meetings. This innovative approach comes as financial institutions explore the potential of generative AI tools to optimize operations and enhance client engagement.

Key Takeaways:

  • UBS has begun using artificial intelligence to create avatars of its analysts, sending videos to clients to enhance research interaction and boost efficiency.
  • The initiative, which started in January, allows analysts to focus on more productive tasks, such as research and client meetings, by automating video production.
  • The avatars are created using OpenAI and Synthesia models, capturing the likeness and voice of analysts in a studio, and generate scripts based on reports and language models.
  • Analysts review and approve all content before it is distributed to clients, with the aim of producing about 5,000 avatar videos annually.
  • UBS emphasizes that AI avatars are not meant to replace human analysts but rather augment their capabilities, focusing on increasing efficiency without compromising human interaction.
  • The bank notes increased client demand for video content, with a rise in views on existing videos, and aims to meet this demand while reducing production costs.

Statistics:

  • UBS publishes about 50,000 documents annually but produces only 1,000 videos due to limited studio capacity.
  • The number of views on existing videos has increased dramatically, highlighting the growing demand for video content among clients.
  • UBS aims to produce approximately 5,000 avatar videos annually, targeting a significant increase in video production capacity.
  • The bank notes a "client driver" and "efficiency driver" for adopting AI avatars, leaning on both increased demand from clients and the need for improved operational efficiency.

Sources:

  • [1] UBS -- "UBS Uses AI to Create Analyst Avatars for Clients"
  • [2] Simon Foy -- "UBS Starts Using AI-Generated Avatars for Analysts"

Read more