UBS Group AG Bolsters AI Innovation with Domino Data Lab Partnership

UBS Group AG has expanded its strategic partnership with Domino Data Lab to enhance its AI innovation capabilities. The collaboration includes an equity investment by UBS and the appointment of a UBS representative as a board observer at Domino Data Lab. This move aims to bolster UBS's leadership in AI model development and governance, driving efficiency and innovation across the bank.

UBS Group AG has significantly expanded its strategic partnership with Domino Data Lab, a leading provider of Enterprise AI platforms. The collaboration, which includes an equity investment by UBS and the appointment of a UBS representative as a board observer at Domino Data Lab, aims to enhance UBS's leadership in AI model development and governance. This move is expected to drive efficiency and innovation across the bank.

The partnership builds on over five years of successful collaboration between UBS and Domino Data Lab through RiskLab, UBS's AI model development and validation platform. The new agreement will roll out the innovative approach across the bank, streamlining AI model development and deployment. This initiative is part of UBS's broader AI strategy, which aims to embed a risk-based approach to model development.

Stephan Hug, Head of Group Functions Technology at UBS, emphasized the bank's commitment to leveraging cutting-edge technologies for responsible innovation. "Our growing partnership with Domino Data Lab reinforces this commitment, establishing scalable AI and robust model governance as important pillars of our advanced digital strategy," he said.

Nick Elprin, co-founder and CEO of Domino Data Lab, noted the opportunity for AI to safeguard financial markets and improve customer experiences. "We're proud to support UBS as they scale AI across their firm — with speed and safety simultaneously," he said.

The expanded UBS-Domino collaboration underscores the bank's leadership in AI adoption within the financial services industry. It demonstrates how global institutions can safely build mission-critical AI solutions that meet escalating customer expectations and regulatory requirements.

Domino Data Lab's Enterprise AI Platform provides an integrated experience for model development, MLOps, collaboration, and governance, enabling UBS teams to build and deploy advanced models faster and with greater confidence. The platform's features, including integrated Jupyter notebooks, version control, and secure data sharing, make it an attractive choice for financial institutions seeking to enhance their data-driven decision-making processes.

The investment by UBS Group AG aligns with its broader strategy to innovate and stay competitive in the rapidly evolving financial technology landscape. By partnering with Domino Data Lab, UBS seeks to improve its machine learning model training and deployment capabilities, ultimately enhancing its ability to deliver personalized and data-driven financial services to its clients.

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-ag-invests-domino-data-lab-expands-market-2508/