At the World Economic Forum in Davos, UBS boss Sergio Ermotti recently commented on developments surrounding artificial intelligence and gave rather cautious forecasts.
• 2023 real hype about AI
• UBS boss Ermotti more reserved
• Ermotti sees evolution, not revolution
After hype about AI
Last year there was a real hype surrounding artificial intelligence – hardly anyone could escape the trendy topic. However, some considered the developments and prospects to be a bit exaggerated – such as Sergio Ermotti. The CEO of Swiss bank UBS spoke at a panel discussion entitled “Are banks ready for the future?” He recently shared his rather sober view of developments surrounding AI at the World Economic Forum in Davos.
Evolution instead of revolution
During the panel discussion, Ermotti cautioned against predictions that claim the world will quickly change with AI, MarketWatch reports. According to him, such prospects are exaggerated: “Let’s not exaggerate how quickly the system will change. It will be an evolution, it will not be a revolution… because we have to be very careful how we do it.” The reason for this is, among other things, the regulations in the banking sector. Nevertheless, AI will probably change the world faster than any competing innovation in history, the UBS boss predicted. “I believe AI will bring about change faster than any other trends we have seen in the past,” MarketWatch quoted Ermotti as saying.
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