Race for AI tech talent
UBS expands workforce in AI
UBS group, a Swiss global financial services company, announced that it is hiring more AI talents - data scientists, architects and business analysts.
Artificial intelligence job is one of few growing demands in banking.
Big global banks are using it to scour vast databases for insight on customers and markets that could help lenders stay competitive as more and more technology firms delve into financial services.
As virtual officers and bots have been recently seen at workforce in Singapore government firms and banks, UBS also rolled out a robo-adviser last year that uses algorithms to help customers build and manage portfolios with little or no human interaction.
According to a 2017 survey done by Deloitte LLP and the industory group EFMA, about nine financial service companies out of 10 are working with AI technologies
The article says that many banks are having trouble finding the right talent and this will result in a 30 percent reduction in the bank’s workforce by the next decade.
Read more on the original report here.