In a recent interview with CNBC, UBS CEO Ralph Hamers said that artificial intelligence (AI) will not replace the role of financial advisors and is better suited to handling day-to-day functions like opening accounts or executing trades.
“Our financial advisors actually should be supported by the technology,” according to Hamers, who added that AI could be used to “make sense of the research and other data that advisors don’t have time for,” adding that UBS client advisors “can’t comprehend all the products options that are out there.”
Hamers noted that UBS is looking to create a “Netflix experience” that will provide clients access to a “dashboard” of different research and products.
“That’s where things are going,” he said, “and that’s where UBS is making the next step in terms of dealing with technology to deliver a much better service for our clients.”
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