UBS Bolsters AI Capabilities with Domino Data Lab Partnership

UBS has invested in Domino Data Lab to deepen their strategic partnership and drive enterprise AI innovation. The collaboration focuses on expanding UBS's RiskLab platform across the enterprise, driving secure AI model development. A UBS representative will join Domino Data Lab's Board as an observer to provide strategic oversight. This move underscores UBS's commitment to transforming into an AI-enabled institution, balancing innovation with stringent compliance requirements.

Swiss banking giant UBS has deepened its strategic partnership with Domino Data Lab, a leading provider of an Enterprise AI platform, through a significant equity investment. The move underscores UBS's commitment to transforming into an AI-enabled institution, balancing innovation with stringent compliance requirements.

The expanded collaboration will focus on expanding UBS's RiskLab platform across the enterprise, driving secure AI model development. The partnership builds on over five years of successful collaboration between UBS and Domino Data Lab, with the latter's platform providing a secure, collaborative, and auditable foundation for AI model development [1].

As part of the new agreement, a UBS representative will join Domino Data Lab's Board as an observer, providing strategic oversight. The financial terms of the agreement were not disclosed. According to Nick Elprin, co-founder and CEO of Domino Data Lab, "There is a tremendous opportunity for AI to help safeguard financial markets and improve customer experiences" [1].

The investment aligns with UBS's broader strategy to innovate and stay competitive in the rapidly evolving financial technology landscape. Domino's platform supports data scientists and engineers in building, training, and deploying machine learning models, providing features such as integrated Jupyter notebooks, version control, and secure data sharing [2].

By leveraging Domino's platform, UBS teams will be able to build and deploy advanced models faster and with greater confidence, ensuring that AI-driven solutions meet the demands of its clients. The expanded UBS-Domino collaboration is expected to help UBS stay at the forefront of AI adoption in the financial services industry, driving efficiency and innovation while ensuring robust governance and risk management [1].

The investment in Domino Data Lab is part of UBS's broader AI strategy, which aims to embed a risk-based approach to model development. This approach is crucial in an industry where AI adoption is accelerating the pace of innovation, and where financial institutions must meet escalating customer expectations while complying with regulatory requirements [1].

References:
[1] https://www.prnewswire.com/news-releases/ubs-invests-in-domino-data-lab-deepening-strategic-partnership-to-drive-next-wave-of-enterprise-ai-innovation-302534775.html
[2] https://www.ainvest.com/news/ubs-group-expands-data-science-domino-data-lab-investment-2508/