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(AI) will become the main way banks connect with their customers

Toby Melville LONDON Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture (ACN.N) in a new report.
PRIVACY CONCERNS The top reason for using AI for user interfaces, cited by 60 percent of the bankers surveyed, was “to gain data analysis and insights”.
Four in five bankers believe AI will “revolutionise” the way in which banks gather information as well as how they interact with their clients, said the Accenture Banking Technology Vision 2017 report, which surveyed more than 600 top bankers and also consulted tech industry experts and academics.
More than three quarters of respondents to the survey believed that AI would enable more simple user interfaces, which would help banks create a more human-like customer experience.
Banks’ advisory arms are an area considered one of the ripest for technological innovation.

 

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Artificial intelligence (AI) will become the primary way banks interact with their customers within the next three years, according to three quarters of bankers surveyed by consultancy Accenture in a new report.
More than three quarters of respondents to the survey believed that AI would enable more simple user interfaces, which would help banks create a more human-like customer experience.
Four in five bankers believe AI will “revolutionize” the way in which banks gather information as well as how they interact with their clients, said the Accenture Banking Technology Vision 2017 report, which surveyed more than 600 top bankers and also consulted tech industry experts and academics.
“(It) will give people the impression that the bank knows them a lot better, and in many ways it will take banking back to the feeling that people had when there were more human interactions.”
Artificial intelligence — the technology behind driverless cars, drones and voice-recognition software — is seen by the financial world as a key technology which, along with other “fintech” innovations such as blockchain, will change the face of banking in the coming years.

AI to become main way banks interact with customers within three years: Accenture

AI forecast

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AI forecast to play a more important role in the way banks interact with customers

AI forecast

Artificial intelligence (AI) is forecast to play a more important role in the way banks interact with their customers, according to a report by consultancy firm Accenture.
The use of AI chatbots to interact with customers is already on the rise.
A surprising finding was that many experts believe that the increasing use of AI in banking will form a more human-like customer experience.
Royal Bank of Scotland (RBS) and Natwest launched an online chatbot in December capable of answering customers’ questions online and help direct them to the right places.
“With things like Netflix, customers are used to smart AI offering advice in the background and we found consumers are surprisingly willing to accept robotic advice about banking products,” Mr McIntyre told the BBC.

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