UBS (SWX: UBSG) announced that it has invested in BigPanda, an artificial intelligence IT operations (AIOps) platform, “through UBS Next, the firm’s strategic venture and innovation unit.”
As customers increasingly look for more digital services and business becomes more data driven, UBS is actively “engaging the financial technology community and investing in companies with game-changing technologies to shape the future of banking for clients.”
Leveraging machine learning to predict, detect and respond to incidents within complex IT systems, BigPanda’s platform “helps automate incident management processes to ensure systems stay up and running.” As a result, the platform “helps companies reduce costs, enhance service availability, increase transparency and improve the speed of IT operations.”
Mike Dargan, UBS Group Chief Digital and Information Officer, said:
“We’re excited to build on our relationship with BigPanda through this investment, helping drive digital disruption and innovation in AIOps. By increasing transparency and leveraging technology to automate key processes, companies can reduce downtime and focus on developing new products and services for clients.”
Assaf Resnick, CEO and co-founder of BigPanda, remarked:
“As companies increase their dependance on technology as an enabler and differentiator, and ultimately change how they deliver their products and services to clients, it has become even more important for them to ensure their IT operations platforms run smoothly. UBS is an early adopter of AIOps in the financial services industry and similarly sees the power emerging technology can have on their operations to deliver a best-in-class client experience.”
UBS Next reportedly “invests in and partners with early-stage fintech and tech start-ups through its $200 million portfolio and runs an incubator for innovation projects to convert ideas into viable businesses.”
The unit is responsible “for enabling innovation across UBS to find new and effective ways to engage clients and deliver premier services using the latest technologies.”
