As early as 1984, Switzerland’s major banks began exploring artificial intelligence (AI), incorporating the concept into their strategic and technological thinking. At Union Bank of Switzerland, AI initially emerged as a future technology within the fields of electronic data processing, automation and language technologies. Credit Suisse addressed the topic through expert systems and increasingly linked it to investment advisory services, decision support and strategic IT planning. At Swiss Bank Corporation, AI was discussed as part of the broader information society, highlighting both the opportunities and limitations of automation.
From 2010 onward, UBS’s focus shifted from general digitalization toward more tangible AI-related applications. The bank placed particular emphasis on automated investment advice, mobile banking, distributed ledger technology, natural-language interfaces and the analysis of large-scale datasets. In 2017, AI and robotics were explicitly identified as key enablers for automating back- and middle-office processes.
The next visible milestone came in 2018 within Wealth Management. At a branch in Zurich, UBS piloted digital assistants for the first time, including an avatar of Chief Economist Daniel Kalt. The virtual assistant automated simple processes, while the avatar delivered market insights and CIO content directly into client meetings. Through this initiative, UBS explored how internal expertise could be scaled and how receptive clients would be to AI-enabled advisory support.
At the same time, AI became increasingly embedded in the bank’s operations behind the scenes. UBS Card Center introduced machine-learning capabilities to identify fraud patterns in card transactions, detect suspicious activity and intervene at an early stage. AI not only enhanced security but also enabled a higher volume of cases to be processed without additional staffing requirements, demonstrating how efficiency and client experience can be improved simultaneously.
Over the following years, AI became firmly established as a tool for supporting employees. Systems were deployed to organize information, analyze data and provide insights that support advisory decisions. Within Wealth Management, new applications emerged that helped identify client needs at an earlier stage and provided targeted recommendations to client advisors. Rather than replacing human expertise, AI augmented it.
In the mid-2020s, this evolution entered a new phase with the advent of generative AI. UBS introduced “Red”, a firm-wide AI assistant that brings together internal knowledge, research and product information while accelerating everyday workflows. Together with tools such as Microsoft Copilot, new data platforms, an AI Hub and clearly defined governance frameworks, UBS established a scalable foundation for the adoption of AI across the organization.
From the outset, this infrastructure was supported by robust control mechanisms. Platforms such as RiskLab enabled the transparent development, validation and monitoring of AI models. In parallel, UBS implemented clear guardrails for the responsible use of AI – a critical requirement in a highly regulated industry.
By the mid-2020s, hundreds of AI use cases had emerged across both front- and back-office functions. These applications automated processes, strengthened risk management and increased productivity. What began with a single avatar evolved into a far-reaching transformation: the bank started to learn from data at scale. Rather than simply reacting to information, it increasingly leveraged, interpreted and connected it. AI has made banking more efficient, secure and adaptive.
Text sources:
Makenzie Holland, UBS deploys AI programs to unlock efficiency, 6 February 2026
Finextra, UBS underpins AI development with data transformation initiative, 30 January 2025
UBS Annual Report 2015–2017
UBS, Innovation and AI at UBS, 2026
Microsoft News, UBS and Microsoft partner to advance AI in banking, 10 February 2025
Employee magazines and annual reports, Credit Suisse, Swiss Bank Corporation, Union Bank of Switzerland, 1985–1998
H. Steinemann, Die Bank im technologischen Wandel, Direktionskonferenz der Schweizerischen Bankgesellschaft, 24–25 February 1984
Image source:
UBS, Innovation and AI at UBS, 2026
Sources of the images used in the exhibition video:
UBS AG