“One of the two platforms, nicknamed “Rosie,” achieved an internal rate of return (IRR) of nearly 50% for the first phase of its implementation, according to Elrod. This compares with an IRR for most tech projects at the bank of between 12-15%.
The second AI platform, built around IBM’s Watson software (and nicknamed “Reggie,” internally), paid for itself in the first year by a nearly half-minute decrease in hold times at the bank’s contact center, according to Chris Brasher, Regions’ Head of Bank Operations, speaking at an IBM event.”