By combining emotional and artificial intelligence, Switzerland can fully leverage its strengths in quality and customer focus and redefine its role as a global financial centre. In this interview, AI expert Dalith Steiger-Gablinger explains why AI is not just a technical innovation, but also a ‘human’ revolution that enables Switzerland to set new standards worldwide.
Credit: This interview by ti8m with Dalith Steiger-Gablinger has been published in German as “KI demokratisiert den Zugang zu professionellem Investmentwissen” on 27.02.2025
Which areas of the financial industry are currently benefiting most from AI?
AI has already reached many areas of the financial sector. Many banks use it to automate manual, repetitive tasks and reduce costs. This ranges from the automatic categorisation of documents to AI-supported credit checks. A recent KPMG study shows that 76 per cent of financial institutions use AI for fraud detection. Suspicious cases are identified in seconds, a significant improvement over the previous days of employee analysis. AI enables fast and accurate analysis, supports investment decisions and even improves compliance. However, AI provides the facts; humans remain responsible for the finer details. AI is not a magic wand. We are transforming from a knowledge economy to a skills economy. AI can advise, but humans remain responsible for the final implementation. It is about combining technology and human intuition – the best of both worlds, so to speak.
Where do you see the most exciting areas of application for the future?
The possibilities are enormous, especially in personalised financial advice and investment. AI enables individualised customer advice through data-based analyses and can also identify market trends in real time and automatically optimise portfolios. This also opens up asset management to smaller investors. Sustainable investment strategies could become even more precise through the integration of ESG data, an important step towards making sustainable financial products more widely accessible. The exciting thing is that AI democratises access to professional investment knowledge.
What does the investment landscape for AI look like in Switzerland?
Oh, there’s a lot of money being spent right now! Recent studies confirm Swiss financial institutions’ plan to increase their budgets for artificial intelligence in the coming years. Investments are mainly flowing into three areas: infrastructure, talent and research. Some banks are setting up their own AI labs, while others are relying on partnerships with fintechs or tech giants. It’s an AI race in which everyone wants to be ahead. One trend we are observing is the development of AI competence centres. Large banks such as UBS are creating centres of excellence to pool AI expertise and make it available across departments. Investment in data infrastructure and cloud technologies is also important. Without a solid database, the potential of AI cannot be fully exploited.
And in the consulting sector? What potential do you see here?
As a digital assistant that delivers relevant information and analyses at lightning speed, AI is worth its weight in gold for consultants. On the other hand, AI tools provide customers with a personal financial coach. This will lead to a shift from an inheritance culture to an investment culture. I think the future lies in symbiosis: AI supports consultants, who in turn assist customers in using AI tools. We are entering the age of the human future economy. This combination of technological progress and human expertise creates real added value.
When people talk about AI, they usually mean generative AI. Is the focus currently primarily on this area?
Generative AI is certainly the rock star among AI technologies at the moment. It is getting a lot of attention, and everyone wants to go on tour with it. But the Swiss financial world is smart enough to know that there is more than just one hit song. In fact, we are seeing a wide range of AI applications in automation: robotic process automation (RPA) for repetitive tasks, machine learning (ML) for credit assessments, and natural language processing (NLP) for analysing contracts and reports. One interesting development is what we at SwissCognitive call ‘cognitive automation’. This involves using AI not only for individual tasks, but also to control entire processes intelligently. One area that immediately springs to mind is customer service: AI-powered chatbots and virtual assistants can handle simple enquiries around the clock. This reduces employee workload and improves customer satisfaction. Another area is document processing. AI can analyse forms, contracts and other documents very quickly and extract relevant information. This saves time and reduces errors. Not to be forgotten is the issue of compliance. Here, AI systems can continuously monitor transactions and identify potential violations of regulations, a digital watchdog that never sleeps!
Where do you see the biggest obstacles to the introduction of AI?
Oh, there are quite a few stumbling blocks on the road to AI paradise! First and foremost are the availability and quality of data. AI is like a gourmet chef, it needs the best ingredients to create a masterpiece. Without good data, there can be no good results. Another major challenge is the shortage of AI specialists. Many companies are struggling to find and retain the right talent. Switzerland needs to invest in education and training in order to remain competitive. Outdated IT systems can also be an obstacle. Many banks are struggling with a patchwork of legacy systems that are difficult to integrate with modern AI technology. Not to be forgotten are the regulatory challenges: the financial sector is highly regulated, and AI systems must meet these requirements. It’s a balancing act. You have to be innovative without breaking the rules. And last but not least, we must not underestimate the cultural barriers. This requires a cultural change and clear leadership from above.
What advice would you give to companies that want to embark on the AI journey?
Start with a strategy! AI is not an end in itself, but a tool for specific goals. First, identify where AI can create the most value for your business. Invest in a solid database, because without it, any AI project will fail. Start small, for example, with pilot projects, and learn from your first steps. It’s not just about us humans understanding the technology, but also about the technology learning to understand us. Such iterative learning processes are essential. This creates early successes and momentum for further AI initiatives. It is important to involve all stakeholders from the outset. This applies in particular to employees whose work will be changed by AI.
Is Switzerland well-positioned for AI regulations?
Switzerland has taken a cautious approach so far, and I think that’s a good thing. We don’t want to stifle innovation with too much bureaucracy. We shouldn’t forget that Switzerland already has very good regulations in place for the sensitive financial and healthcare sectors. In addition, our data protection law provides a solid framework for handling personal data. That doesn’t mean there isn’t a need for more straightforward guidelines in some areas. I think the EU’s risk-based approach could serve as a model. The most important thing is to have clear rules for transparency and explainability of AI. Especially in the area of credit decisions or investment advice, it must be possible to understand how AI arrives at its results.
What is your initial conclusion about the AI revolution that is currently underway?
AI has the potential to change the financial world fundamentally, and Switzerland is excellently positioned to take a leading role. If business, politics and science pull together, Switzerland can shine globally as the AI boutique of the financial industry. Initiatives such as our Industrial Centre of Excellence for AI (ICE AI), which bring industrial companies together to compete in the global displacement market, are crucial. Let us focus on reviving Switzerland as a financial centre that delivers the highest quality worldwide through the targeted use of artificial and emotional intelligence and focuses on personal customer contact. If we succeed in this, Switzerland will be a pioneer in the golden age of the human economy of the future.
Original article.
By combining emotional and artificial intelligence, Switzerland can fully leverage its strengths in quality and customer focus and redefine its role as a global financial centre. In this interview, AI expert Dalith Steiger-Gablinger explains why AI is not just a technical innovation, but also a ‘human’ revolution that enables Switzerland to set new standards worldwide.
Credit: This interview by ti8m with Dalith Steiger-Gablinger has been published in German as “KI demokratisiert den Zugang zu professionellem Investmentwissen” on 27.02.2025
Which areas of the financial industry are currently benefiting most from AI?
AI has already reached many areas of the financial sector. Many banks use it to automate manual, repetitive tasks and reduce costs. This ranges from the automatic categorisation of documents to AI-supported credit checks. A recent KPMG study shows that 76 per cent of financial institutions use AI for fraud detection. Suspicious cases are identified in seconds, a significant improvement over the previous days of employee analysis. AI enables fast and accurate analysis, supports investment decisions and even improves compliance. However, AI provides the facts; humans remain responsible for the finer details. AI is not a magic wand. We are transforming from a knowledge economy to a skills economy. AI can advise, but humans remain responsible for the final implementation. It is about combining technology and human intuition – the best of both worlds, so to speak.
Where do you see the most exciting areas of application for the future?
The possibilities are enormous, especially in personalised financial advice and investment. AI enables individualised customer advice through data-based analyses and can also identify market trends in real time and automatically optimise portfolios. This also opens up asset management to smaller investors. Sustainable investment strategies could become even more precise through the integration of ESG data, an important step towards making sustainable financial products more widely accessible. The exciting thing is that AI democratises access to professional investment knowledge.
What does the investment landscape for AI look like in Switzerland?
Oh, there’s a lot of money being spent right now! Recent studies confirm Swiss financial institutions’ plan to increase their budgets for artificial intelligence in the coming years. Investments are mainly flowing into three areas: infrastructure, talent and research. Some banks are setting up their own AI labs, while others are relying on partnerships with fintechs or tech giants. It’s an AI race in which everyone wants to be ahead. One trend we are observing is the development of AI competence centres. Large banks such as UBS are creating centres of excellence to pool AI expertise and make it available across departments. Investment in data infrastructure and cloud technologies is also important. Without a solid database, the potential of AI cannot be fully exploited.
And in the consulting sector? What potential do you see here?
As a digital assistant that delivers relevant information and analyses at lightning speed, AI is worth its weight in gold for consultants. On the other hand, AI tools provide customers with a personal financial coach. This will lead to a shift from an inheritance culture to an investment culture. I think the future lies in symbiosis: AI supports consultants, who in turn assist customers in using AI tools. We are entering the age of the human future economy. This combination of technological progress and human expertise creates real added value.
When people talk about AI, they usually mean generative AI. Is the focus currently primarily on this area?
Generative AI is certainly the rock star among AI technologies at the moment. It is getting a lot of attention, and everyone wants to go on tour with it. But the Swiss financial world is smart enough to know that there is more than just one hit song. In fact, we are seeing a wide range of AI applications in automation: robotic process automation (RPA) for repetitive tasks, machine learning (ML) for credit assessments, and natural language processing (NLP) for analysing contracts and reports. One interesting development is what we at SwissCognitive call ‘cognitive automation’. This involves using AI not only for individual tasks, but also to control entire processes intelligently. One area that immediately springs to mind is customer service: AI-powered chatbots and virtual assistants can handle simple enquiries around the clock. This reduces employee workload and improves customer satisfaction. Another area is document processing. AI can analyse forms, contracts and other documents very quickly and extract relevant information. This saves time and reduces errors. Not to be forgotten is the issue of compliance. Here, AI systems can continuously monitor transactions and identify potential violations of regulations, a digital watchdog that never sleeps!
Where do you see the biggest obstacles to the introduction of AI?
Oh, there are quite a few stumbling blocks on the road to AI paradise! First and foremost are the availability and quality of data. AI is like a gourmet chef, it needs the best ingredients to create a masterpiece. Without good data, there can be no good results. Another major challenge is the shortage of AI specialists. Many companies are struggling to find and retain the right talent. Switzerland needs to invest in education and training in order to remain competitive. Outdated IT systems can also be an obstacle. Many banks are struggling with a patchwork of legacy systems that are difficult to integrate with modern AI technology. Not to be forgotten are the regulatory challenges: the financial sector is highly regulated, and AI systems must meet these requirements. It’s a balancing act. You have to be innovative without breaking the rules. And last but not least, we must not underestimate the cultural barriers. This requires a cultural change and clear leadership from above.
What advice would you give to companies that want to embark on the AI journey?
Start with a strategy! AI is not an end in itself, but a tool for specific goals. First, identify where AI can create the most value for your business. Invest in a solid database, because without it, any AI project will fail. Start small, for example, with pilot projects, and learn from your first steps. It’s not just about us humans understanding the technology, but also about the technology learning to understand us. Such iterative learning processes are essential. This creates early successes and momentum for further AI initiatives. It is important to involve all stakeholders from the outset. This applies in particular to employees whose work will be changed by AI.
Is Switzerland well-positioned for AI regulations?
Switzerland has taken a cautious approach so far, and I think that’s a good thing. We don’t want to stifle innovation with too much bureaucracy. We shouldn’t forget that Switzerland already has very good regulations in place for the sensitive financial and healthcare sectors. In addition, our data protection law provides a solid framework for handling personal data. That doesn’t mean there isn’t a need for more straightforward guidelines in some areas. I think the EU’s risk-based approach could serve as a model. The most important thing is to have clear rules for transparency and explainability of AI. Especially in the area of credit decisions or investment advice, it must be possible to understand how AI arrives at its results.
What is your initial conclusion about the AI revolution that is currently underway?
AI has the potential to change the financial world fundamentally, and Switzerland is excellently positioned to take a leading role. If business, politics and science pull together, Switzerland can shine globally as the AI boutique of the financial industry. Initiatives such as our Industrial Centre of Excellence for AI (ICE AI), which bring industrial companies together to compete in the global displacement market, are crucial. Let us focus on reviving Switzerland as a financial centre that delivers the highest quality worldwide through the targeted use of artificial and emotional intelligence and focuses on personal customer contact. If we succeed in this, Switzerland will be a pioneer in the golden age of the human economy of the future.
Original article.
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