UBS Asia President Says AI Will Boost Productivity but Impact Jobs

UBS Group AG’s Asia Pacific President Iqbal Khan said artificial intelligence will boost productivity by freeing up capacity, but it will also have ramifications for jobs, according to Bloomberg reporting from Hong Kong. Khan made the comments during the UBS Asian Investment Conference, where he also discussed China, geopolitics and the bank’s outlook in a period of heightened uncertainty.

Khan’s remarks reflect a broader debate among executives over how quickly AI will reshape white-collar work. Bloomberg said Khan described AI as a tool that can improve efficiency inside large organizations, but one that will also change staffing needs as firms automate more tasks and redeploy employees into other roles.