UBS Innovates with AI-Powered Video Avatars for Analysts
In a groundbreaking move, UBS is utilizing artificial intelligence to enhance customer engagement through the creation of video avatars for its analysts. This innovative initiative aims to streamline content delivery, catering to the evolving preferences of clients in the financial sector.
AI Models Transforming Financial Communication
According to a report from the Financial Times, UBS has successfully developed virtual representations of approximately 35 out of its 720 analysts. This initiative marks the beginning of a larger strategy to produce more avatars, leveraging advanced OpenAI and synthesis technologies.
How Video Avatars are Created
The process of creating these avatars is straightforward yet sophisticated. Analysts record their likeness and vocal characteristics at a studio operated by Synthesia. Using this captured data, a tongue model generates scripts based on the analysts’ reports, subsequently producing realistic videos that convey essential information to clients.
Meeting Customer Expectations for Concise Content
This innovative approach aligns with UBS’s commitment to enhancing operational efficiency while addressing growing customer demand for concise video content. As platforms like TikTok rise in popularity, providing brief, engaging videos allows UBS to connect better with its audience.
Insights from UBS Leadership
“There are two pilots for that: the customer pilot and the efficiency driver. This helps you evolve your video capabilities in a way that customers are asking you, and ultimately saves you time to conduct research and engage with clients,”
Scott Salomon, the head of global research technology at UBS, shared these insights about the program’s dual focus on customer experience and efficiency.
Future Goals and Production Plans
Participation in this initiative is optional for analysts, a decision that emphasizes the program’s flexibility. Although the technology is still being fine-tuned—acknowledging current challenges with certain accents—UBS is looking to scale its production significantly, aiming to create up to 5,000 videos each year.
A Shift Towards Video in Financial Reporting
“We publish around 50,000 documents per year, but video production was capped at around 1,000 per year due to studio capacity. However, the number of views on these videos has increased tremendously,”
Solomon elaborated on the impressive growth in video engagement, noting its potential to reshape how financial information is presented and consumed.
Conclusion: The Future of Financial Communication
UBS’s commitment to innovation through AI-enhanced video avatars represents a significant leap in the financial services industry. By prioritizing customer preferences and embracing cutting-edge technology, UBS is well-positioned to redefine the future of financial communication.