Active.Ai cognitive Conversational AI platform is now live in 44 countries

  • “ platform today powers financial institutions in 44 countries across 200+ use cases, in multiple languages
  • With nearly four billion users of smartphones, the world of finance has clearly moved from branch and call center interactions to mobile centric conversations about money.
  • According to Mckinsey, this digital age, AI presents a transformational moment for financial services in unlocking over $1T in annual value by reducing costs, increasing customer engagement, reducing error rates and improving risk making.
  • 85% of financial services companies are currently using AI, and over three in four expect AI to become essential to their business by 2022. (World Economic Forum (WEF))
  • The Global Conversational AI market is expected to grow to from $5 billion to $20 billion by 2027 with a compound annual growth rate (CAGR) of 22% and financials are expected to contribute 29% of this market.-Cognizant”

Active.Ai cognitive Conversational AI platform is now live in 44 countries

Taking Banking To The Cloud: Five Engineering Priorities

  • “Banking and financial services understand these demands, so it’s no surprise they are increasingly adopting cloud platforms; the global finance cloud market is expected to grow more than 22% annually through 2025.
  • To ensure a swift, seamless transition to cloud platforms, we believe banks must overcome five major challenges. They’ll need to reengineer processes and workflows; integrate cloud and legacy systems; adhere to regulatory compliance; and relentlessly test — all with bulletproof security.”

How Conversational AI is Transforming the Customer Experience

  • “Forbes author concluded that up to 84% of consumers had been helped by machines. Yet around half had no idea they weren’t speaking with humans.
  • ‘Self-service delivers personalized engagement, increases customer satisfaction, and reduces operational costs by deflecting common customer inquiries,’
  • Though CNBC concludes around 27% of young workers fear AI will take over their jobs, AI isn’t an either/or proposition. In fact, conversational AI software can serve alongside human customer service representatives.”

Amazon unveils ‘science fiction’ robot that can patrol homes

“Amazon is launching Astro, its first household robot, powered by its Alexa smart home technology. The company said it can be remote-controlled when not at home, to check on pets, people, or home security. It can also patrol a home automatically and send owners a notification if it detects something unusual.”

PayPal launches its ‘super app’ combining payments, savings, bill pay, crypto, shopping and more

  • “PayPal has been talking about its ‘super app’ plans for some time, having recently told investors its upcoming digital wallet and payments app had been given a go for launch.
  • The enhanced bill pay feature lets customers track, view and pay bills from thousands of companies, including utilities, TV and internet, insurance, credit cards, phone and more
  • Via a Synchrony Bank partnership, PayPal Savings will offer a high-yield savings account with a 0.40% Annual Percentage Yield (APY)
  • It now features a personalized dashboard offering an overview of the customer’s account. The wallet tab lets users manage Direct Deposits and connect funding sources like bank accounts and debit and credit cards alongside the ability to enroll in PayPal’s own debit, credit and cash cards.
  • A finance tab provides access to the high-yield savings and the previously available crypto capabilities, which allows users to buy, hold and sell Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
  • The payments tab, meanwhile, will hold much of PayPal’s traditional feature set, including peer-to-peer payments, international remittances, charitable and nonprofit giving, plus now bill pay and a two-way messaging feature that allows users to request payments
  • Messaging also ties into PayPal’s new Shopping hub, which is where the company is finally putting to good use its 2019 $4 billion Honey acquisition.
  • ‘We’ll use AI and [machine learning] capabilities to understand what kind of shopping deals are most interesting to customers and continue to develop that over time. They’ll just get smarter and smarter as the product gets more usage,’
  • The new app is laying the groundwork for other new products in the quarters to come. The biggest initiative on its roadmap is a plan to enter the investment space, to rival other mobile investing apps, like Robinhood.