UBS Turns to AI Avatars to Streamline Analyst Reports - Fintech Switzerland News
UBS, a prominent player in the financial sector, is revolutionizing its content delivery methods by leveraging artificial intelligence (AI) technology to create video avatars of its analysts. This innovative approach aims to enhance efficiency in sharing valuable insights with clients in a more engaging format. According to a report by the Financial Times, UBS has already developed virtual representations of approximately 35 out of its 720 analysts, with plans for further expansion in the future.
Enhancing Efficiency with AI Technology
The initiative by UBS involves the utilization of cutting-edge technology from OpenAI and Synthesia. Analysts participate in the process by recording their facial expressions and voice in a studio operated by Synthesia. Subsequently, a language model analyzes the analyst's report, creates a script, and generates a lifelike video presentation using the recorded data.
This strategic move is driven by UBS's commitment to improving operational efficiency and catering to client demands for concise video content. Short-form videos have gained popularity, especially on platforms such as TikTok, prompting UBS to adapt to this trend efficiently.
Scalability and Client-Centric Approach
Scott Solomon, the Head of Global Research Technology at UBS, emphasized the dual benefits of this innovation, stating, "There are two drivers for it: the client driver and the efficiency driver… It is helping you scale your video capabilities in a way that clients are asking you for, and ultimately saving you time to do your research and meet with clients."
Future Prospects and Growth Trajectory
As highlighted by Solomon, UBS currently publishes around 50,000 documents per year, with video production previously capped at approximately 1,000 videos annually due to studio capacity constraints. However, the surge in video views has underscored the demand for such content, prompting UBS to focus on scaling up its video production capability to meet growing client expectations.
By embracing AI avatars for analyst reports, UBS is not only enhancing its operational efficiency but also adapting to evolving client preferences for engaging and informative video content. This forward-looking approach underscores UBS's commitment to leveraging technology for sustainable growth and client satisfaction in the competitive financial landscape.
