The news this week of how UBS has adopted artificial intelligence (AI) to help traders perform better, provides a great example of keeping things simple but highly effective. By focusing on basic, yet important, processes associated with trade allocations, UBS has shown that incremental savings can lead to big benefits, namely - speed, accuracy, control and client satisfaction improvements.
Interestingly, the introduction of front office robots can lead to downstream benefits. By recognising that improving processes, or "getting it right," in the front office, the bank will actually have a exponential effect and impact on operations. Less effort (manual or automated) is required to resolve or complete tasks. Again, these will lead to savings as well as allow staff to focus on more important and (increased) value adding activities.