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UBS CEO Ermotti on Earnings, Cost Savings, Capital Return

UBS CEO Sergio Ermotti speaks to Bloomberg's Stephen Carroll after the lender posted third-quarter profit broadly in line with expectations, with a surge in client inflows potentially buoying the outlook for the global wealth manager. The Zurich-based bank said net income in the three months through September was $2.69 billion, while net new assets in the wealth unit came in at $55.1 billion, led…

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More in AI

AI and the quiet erosion of human judgment

In 1986, Paul Simon sang of “days of miracle and wonder” in the song The Boy in the Bubble, from his Graceland album. It was hardly a hymn to progress. […]

  • AI systems, including frontier models, can perform diverse tasks but lack guaranteed accuracy.
  • Human oversight becomes challenging due to AI's vast output, risking loss of meaningful judgment.
  • Oversight fatigue may occur as AI-generated recommendations appear routine and fast.

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