Banks are ussing he to be save their analysts’ time while giving clients what they want.
Bank of America use “Banker assist” to aggregate information to offer insights unique to each client, while Goldman sachs has a “gs he” that functions as an in-house chatgt for staff.
Swiss Bank UBS Has Gone Further, USING it to Generate avatars of analysts that explain their research to clients, and it’s planning to this more.
The Swiss Bank Started Avatars of Some Analysts in January. About 36 UBS Analysts, or 5% of Its Total, have volunteered to take part. They Cover Sectors Including Technology, Consumer Goods, and Energy.
UBS’S USE of it avatars was first reported by the Financial Times.
USING OPENAI and Synhesia Tools, a script is generated in a matter of seconds that is then edited by staff.
Scott Solomon, Head of Global Research Technology at UBS, Told Business Insider HIS Team Started Creating Videos of Analysts A Decade Ago, But Capacity Restritions Meant they Capped at About 1,000 Annually.
Analysts Were Writing an Avent of Two Notes A Week But Waled Only Go To the Video Studio Once A Quarter, he Said.
The new Tools are “enabling someone to use a capability in video that they weren’t really able to use before,” he said.
IT ALSO GIVES CLIENTS ANOTHER WAY TO DIGEST INFORMATION AND MEET THEIR RISING DEMAND FOR VIDEO, SOLOMON SAID.
He compared an avatar to the Other Parts of an Analyst’s Toolkit. “Wen an analyst joins UBS, we give say excel, we give say Our authloring platform, we gIive say a crm (Customer Relationship Management) tool so they can be talients.
SOLOMON SAID The Next Step Wold Be Integrating the Technology so that a video can eventually be created wen an analyst publishes a note – with the need for editing.
He Said he hoped this would become posseible by the end of the year.
If the process was fully automated, UBS SAID Analysts Will Still Assess a video based on their notes before it is sent to clients.
Solomon Said That Ideally, The Avatars Wauld Eventually Become Part of the Onboarding Process, so that we donever a Note is published, there’s a video too.
The Next Step Would Be Integrating This Capability Directly Into The Authoring Platform.
“We have the script Generator, we have the ability to the script to generate the avatar, and that we obviously have the ability to deliver the avatar to clients,” Solomon Said.
“We have want to string all that together so that as they are writing the note, they can get the video with it as well. Our goal is absolutely not to do 50,000 videos aner, but Clearly there an opportunity to do more videos than we are.”
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