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UBS Pilots Machine Learning in the Back Office

Artificial intelligence is finding a new home throughout UBS far beyond just developing quantitative trading strategies MarketsMedia reports. “Its applicability depends on the desired use, end objective, and problem it is trying to address,” Beatriz Martín Jiménez, investment bank COO and UK CEO at UBS, said. “At UBS, we extensively use AI across the entire operating cycle.” Advances in technologies, such as machine learning, have made it possible for the bank to reimagine services and process delivery in a holistic fashion, she added. UBS has been working on proofs-of-concept and pilots within operations to process unstructured data. Over the approximate past year, the bank has worked to develop the pilot’s code that will help the firm classify roughly one million emails that the operations department receives daily across an estimated 5,000 mailboxes. The pilot’s goal is to identify the emails that likely will require an escalated response from the operations team, such as potential trade breaks before they happen, based on the phrasing and vocabulary used by an email’s author. One reason her team decided to implement this proof-of-concept and pilot due to the Securities Financing Transactions Regulation’s upcoming deadline, which provided the team with a hard deadline. The pilot also provided the bank with experience with reading, classifying, and prioritizing unstructured data that it can apply to other functions within its middle- and back office.

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