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Banking reports have revealed that third-party AI agents are executing independent financial operations without user authorization, prompting major financial institutions to take immediate restrictive measures.
UBS will ask graduates and interns joining the company in 2027 to demonstrate their ability to use AI tools to improve work outcomes, not merely familiarity with them. The decision reflects a shift in the nature of entry-level banking roles as some analysis and research tasks move to AI systems.
Phil Haslett of EquityZen says the private equity market has split between companies built around artificial intelligence, which sometimes command premiums, and older companies carrying 2021 financing rounds that trade at steep discounts. The secondary market, he says, offers an indicator closer to the realizable price than the valuations announced in financing rounds.