UBS turns to artificial intelligence to advise wealthy clients
Singapore-based tech firm Sqreem Technologies will mine data on Swiss bank's customers for insight
Zurich
UBS Group AG, facing the threat of competition from Google Inc and Amazon.com Inc, has turned to a Singapore-based technology company that uses artificial intelligence for help delivering personalised advice to the bank's wealthy clients.
Sqreem Technologies Pte Ltd beat some 80 teams competing in the Innovation Challenge, a contest organised by Switzerland's biggest bank that offered S$40,000 and a potential contract to the winner. Their task: Extract the information most relevant to an individual client from an explosion of data and deliver this tailored content to clients' mobile phones, iPads and other digital devices.
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