UBS Leads Equity Investment in Domino Data Lab for Enterprise AI Platform

UBS has led an equity investment in Domino Data Lab, expanding their partnership to identify and build scalable AI models with robust governance and risk management. The partnership aims to leverage Domino's enterprise AI platform to enhance UBS's AI capabilities and drive innovation in the financial services industry.

UBS, the global wealth management and banking giant, has led an equity investment in Domino Data Lab, a leading provider of enterprise AI platforms. This strategic move aims to enhance UBS's AI capabilities and drive innovation in the financial services industry. The investment is part of an expanded partnership that focuses on identifying and building scalable AI models with robust governance and risk management at their core.

The partnership, which has been ongoing for over five years, has seen significant growth with the addition of an equity investment led by UBS. A UBS representative will also join the Domino Data Lab Board as an observer. This expansion builds on the successful collaboration with RiskLab, UBS's platform for AI model development and validation, which was built using Domino's technology. The platform provides a secure, collaborative, and auditable foundation for AI model development, supporting UBS's risk-based approach.

The new partnership will roll out across the bank to streamline AI model development and deployment, driving efficiency and innovation. It is expected to accelerate UBS's broader AI strategy by embedding a risk-based approach to model development more strategically. Stephan Hug, Head of Group Functions Technology at UBS, commented, "At UBS, we're making bold choices to ensure we're an AI-enabled institution – leveraging cutting-edge technologies to deliver smarter, faster, and above all, more responsible innovation that benefits our clients, people, and shareholders."

Nick Elprin, co-founder and CEO of Domino Data Lab, stated, "There is a tremendous opportunity for AI to help 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." The expanded collaboration showcases how global institutions can safely build mission-critical AI that meets the escalating demands of customer expectations and regulatory requirements, accelerating innovation.

Domino Data Lab's platform provides an integrated experience encompassing model development, MLOps, collaboration, and governance, enabling global enterprises to develop better medicines, grow more productive crops, and develop more competitive products. The investment aligns with UBS's broader strategy to innovate and stay competitive in the rapidly evolving financial technology landscape.

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://finance.yahoo.com/news/ubs-invests-domino-data-lab-130000060.html
[3] https://www.ainvest.com/news/ubs-group-ag-invests-domino-data-lab-expands-market-2508/