Oxford and UBS Launch New Center for Applied AI Research
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The University of Oxford and Swiss investment bank UBS have teamed up to launch research dedicated ot the study of artificial intelligence, according to UBS’ media release. The post, published yesterday, December 9, says that the two are launching the Oxford-UBS Center for Applied AI to pioneer research and innovation.
University of Oxford Teams Up With UBS
The announcement says that the Center will aim to deepen the understanding of the power of artificial intelligence through cutting-edge research and promote its practical application.
The Center further aims to be a ground-breaking interdisciplinary partnership involving UBS, Oxford Saïd, and the University’s Mathematical, Physical and Life Sciences division (MPLS). “It will drive independent research projects on AI as well as joint initiatives, in which Centre researchers collaborate closely with UBS practitioners to apply their findings to real-world applications,” as UBS noted.
The bank said that the Center will be led by UBS Professor for Applied AI at Oxford Said, and will be supported by a dedicated team of 20 researchers. They will focus on three key areas – AI and Society, AI for Business and Economy, and AI Futures. AI and Society will include aspects of AI governance, while AI Futures will include the exploration of emerging AI paradigms, model development, and their potential applications.
As for AI for Business and Economy, it will include applications of AI in driving innovation and transformation across business and economic systems.
An Important Partnership For Pioneering New AI Research Solutions
University of Oxford’s Vice-Chancellor, Professor Irene Tracey, commented on the move, welcoming the news of the collaboration. She added that this is an important partnership that brings together one of the world’s leading universities with a globally leading financial services institution.
This dynamic multidisciplinary partnership will lead to pioneering new AI research solutions and practical applications at a time of unprecedented technological change. We are grateful to UBS for their vision and support, enabling us to launch the Oxford-UBS Centre for Applied AI,” Professor Tracey added.
She continued by saying that the partnership will be unique in its research power as it draws on intellectual capital from the University of Oxford’s business school and its division for scientific research, and is generously supported by UBS.
Meanwhile, UBS’s Group Chief Operations and Technology Officer, Mike Dargan, said: “AI represents a fundamental opportunity to change how we operate and create value for clients. We are delighted that UBS will be partnering with the University of Oxford to foster pioneering AI research and develop practical tools and solutions that can be implemented at scale across our firm, accelerating our journey to become a fully AI-enabled institution and shaping the future of financial services.”
