“A non-conversational IVR such as this can frustrate your customers and lead them to attempt to contact an agent as soon as possible, which increases your call deflection rates. You can solve for this challenge by adding artificial intelligence (AI) to your IVR. An AI-enabled IVR can more quickly and accurately help your customer resolve issues without human intervention. When an agent is needed, the AI-enabled IVR can route your customer to the correct agent with the correct information already collected, thereby saving the customer from having to repeat the information.
With Amazon Lex, you can build powerful, multi-lingual conversational AI systems and elevate the self-service experience for your customers with no ML skills required. With the Amazon Chime SDK, you can easily integrate your existing contact center to Amazon Lex using an Amazon Chime SDK SIP media application. This includes contact centers such as Avaya, Cisco, Genesys, and others”
“Glia, the leading provider of Digital Customer Service (DCS), today announced Glia Virtual Assistants (GVAs) to help companies improve resolution times and lower costs while providing seamless customer experiences that blend virtual and human guidance. Built on conversational AI solutions from Glia’s recent Finn AI acquisition, GVAs are optimized for banks and credit unions and pre-trained to deliver out-of-the-box value. By fully integrating GVAs into its market-leading platform, Glia offers a single provider solution for Digital Customer Service.
‘The proliferation of chatbots and AI technology in general is creating complexity for financial institutions, especially for those developing their own automated solutions. Glia aims to cut through the chaos with virtual assistants that streamline deployment and accelerate time-to-value on our Digital Customer Service platform. Better yet, we continue to enhance the benefit of our GVAs by leveraging our time-tested library of AI-powered responses to help clients meet existing and emerging needs,’ said Justin DiPietro, Chief Strategy Officer and Co-Founder of Glia”
“Arijit Sengupta once wrote an entire book titled Why A.I. is A Waste of Money. That’s a counterintuitive title for a guy who makes his money selling A.I. software to big companies.
That’s borne out in a slew of recent surveys, where business leaders have put the failure rate of A.I. projects at between 83% and 92%.
Aible makes an unusual pledge in the A.I. industry: it promises customers will see positive business impact in 30 days, or they don’t have to pay. Their website is chock full of case studies.
The key, Sengupta says, is figuring out what data the company has available and what it can do easily with that data. ‘If you just say what do you want, people ask for the flying car from Back to the Future,” he says. “We explore the data and tell them what is realistic and what options they have.’
One reason most A.I. projects fail, as Sengupta sees it, is that data scientists and machine learning engineers are taught to look at ‘model performance’ (how well does a given algorithm do with a given data set at making a prediction) instead of business performance (how much money, in either additional revenue or cost-savings, can applying A.I. to a given dataset generate).”
“Millennials – the 25 year-old to 40 year-old cohort – are hitting their prime spending years. There’s 1.8 billion of them, representing 23% of the world’s population, and they’re not content with the status quo.
Some 50 percent of 8,000 banking customers in a new CapGemini survey cited voice assistants as a feature they want to see most, yet only 35 percent of bank executives saw it as a priority.
Improving customer service drives customer retention and lifetime value, while creating greater efficiencies in a significant cost center – banks globally are forecasted to save over $7.3 Billion via chatbots alone by 2023 according to Juniper Research.
Young adults are increasingly looking for “super apps,” which tie multiple platforms or financial solutions into a pleasing interface using open APIs. Called open banking, the data sharing and AI tools enable banks to present customized content, cross-sell targeted products and present relevant third-party offers, such as sales on your favorite shopping sites.”
“Arvest Bank, a community bank with more than $26billion in assets, announced a five-year partnership with Google Cloud to enable and accelerate its multi-year digital transformation strategy. The announcement follows the bank’s partnership with technology leader Thought Machine, and comes on the heels of its announcement that growth strategist Laura Merling has joined Arvest to lead transformation, technology, and bank operations.
‘The disruption in the financial services industry has only just begun,’ said Laura Merling, Arvest, bank chief transformation and operations officer. ‘Data, insights, and artificial intelligence are the foundation for that disruption, from reshaping credit risk modeling and better supporting underserved communities, to rethinking data driven relationship management. Collaborating with Google Cloud means we will not only gain access to the best tools, technologies, and expertise to deliver community banking in a digital world, but also we will be able to drive sustainability and reduce our carbon footprint by moving to the cloud.’”