NLP Isn’t Enough. Leading Financial Services Companies Are Now Moving to Conversational AI.

  • “Financial services firms all over the globe are investing heavily in artificial intelligence (AI). According to IDC, worldwide spending on AI will likely top $204 billion by 2025.
  • Juniper Research predicts that chatbots will account for 79% of successful mobile banking interactions in 2023.
  • A Forrester report commissioned by vendor ADA found that 95% of financial firms would like their chatbots to understand customer history with the company. However, only 55% said that their chatbots could do that today.
  • Juniper Research forecasts that in 2023 the global operational cost savings from chatbots in banking will reach $7.3 billion, and for insurance, the savings will approach $1.3 billion.”

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