UBS has announced its plans to implement Microsoft 365 Copilot across 50,000 workstations by the end of March 2024, making it the largest deployment of the tool in the global financial services sector. This move is aimed at improving operational efficiency.

During the third-quarter financial results call, UBS Group CEO Sergio Ermotti emphasized the bank's commitment to investing in AI, automation, and cloud technologies. UBS is also introducing its own AI assistant called "Red," which will be available to 20,000 employees in Switzerland, Hong Kong, and Singapore. This assistant is designed to streamline access to product information and investment research.

Additionally, UBS is exploring the use of an AI algorithm to identify potential acquisition targets, indicating a broader strategy to leverage technology for competitive advantage.