The investment bank division at UBS has led a funding round in an artificial intelligence-powered platform that aims to streamline investment research processes for market participants.
UBS Investment Bank’s investment in Lynk, which uses AI driven proprietary technology that indexes individuals based on their experience and expertise to match them with subject matter experts, brings the firm’s total funding to date to $35 million.
Lynk said it plans to use to the funds to expand its offering and global reach. The investment also builds on an existing collaboration between UBS and Lynk aimed at helping users to make better investment decisions.
As part of their ongoing collaboration, the global markets team in its investment bank division at UBS has rolled out Lynk’s platform to its institutional investor clients.
“UBS has been at the forefront of innovation within the investment research space, and with Lynk’s technology and knowledge platform, we’re confident that this provides a robust solution for our clients to accelerate and inform their investment process,” said Damien Horth, head of UBS global research new business Initiatives.
Market appetite for artificial intelligence technology for data visualisation has continued to rise in recent years. A recent study by Refinitiv, however, suggested that the buy-side was lagging behind the sell-side in its adoption of machine learning and AI technology.
The research polled 120 asset managers and found 28% had deployed ML and AI in multiple areas, describing it as core to their business while 58% said they had only deployed it in pockets.
In comparison, 44% of 281 sell-side firms surveyed said they had deployed ML and AI in multiple areas and 41% said they had deployed it in pockets, marking a distinct increase.