ZURICH: UBS Group AG\u2019s Asia-Pacific president Iqbal Khan says artificial intelligence (AI) will free up capacity and improve productivity but also have an impact on jobs.\u00a0<\/p>\n
\u201cIf we can use that capacity to serve our clients better, gain more share of the wallet, grow faster, grow more, then the impact on costs and jobs is going to be less,\u201d said Khan in an interview with Bloomberg Television.<\/p>\n
\u201cNow if we cannot, and this in an industry-wide topic, then of course it will have ramifications and implications on costs and jobs.\u201d\u00a0<\/p>\n
Khan\u2019s comments contribute to the broader debate surrounding AI.<\/p>\n
Standard Chartered chief executive officer Bill Winters has also warned that an increased focus on AI could lead to the elimination of roles, as the bank replaces what he described as \u201clower-value human capital\u201d with technology \u2013 a term he later apologised for.<\/p>\n
Earlier this month, Goldman Sachs Group Inc president and chief operating officer John Waldron described his firm\u2019s traditional operations as a \u201chuman assembly line\u201d ripe for automation.<\/p>\n
Khan said that AI has risks, but also the potential to improve efficiency and productivity across the business.\u00a0<\/p>\n
\u201cThis is the biggest transformation we\u2019re going to see and it\u2019s more about up-skilling our people and us learning,\u201d said Khan. \u2014 Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"ZURICH: UBS Group AG\u2019s Asia-Pacific president Iqbal Khan says artificial intelligence (AI) will free up capacity and improve…\n","protected":false},"author":2,"featured_media":73144,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[129],"tags":[38680,2356,2009,39,11079,38681,38682,12903,223],"class_list":["post-73143","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ubs","tag-artificialintelligence","tag-automation","tag-banking","tag-economy","tag-fintech","tag-futureofwork","tag-jobcuts","tag-productivity","tag-ubs"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116649036776385860","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/73143","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=73143"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/73143\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/73144"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=73143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=73143"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=73143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}