The North Face “The popular outerwear brand has a chatbot on its website that recommends relevant products. Using mobile-optimized AI, it narrows down items based on a customer’s needs, which it determines based on a series of questions. At the end, only the most suitable items will be suggested for purchase.” https://www.psfk.com/2019/07/guided-recommendations-retailers-ai.html
Kabbage secures $200M to fuel its AI-based loans platform for small businesses
“Kabbage, which loans up to $250,000 in a single deal to small and medium businesses, has built a platform that harnesses the long tail of big data from across the web. It uses not just indicators from a company’s own public activities, but also sources comparative information from across a wider group of similar companies,…
China using artificial intelligence to build economy, monitor population
“President Xi Jinping wants China to be the world’s AI leader by 2030.” https://www.nbcnews.com/nightly-news/video/china-using-artificial-intelligence-to-build-economy-monitor-population-63759941873
How to win over banking customers to trust AI
“In addition, when asked who you would prefer to decide whether or not to provide you a loan –a human or AI – 81% answered a human employee at a bank, compared to 19% saying AI. It starts with getting personalisation right. There is a fine line between utilising a customer’s preferences and needs to…
Banking Customers Can Now Open An Account Using Just A Selfie
“U.K.-based bank NatWest is now allowing customers to open an account with just a selfie. In partnership with financial technology company HooYu, NatWest is using facial recognition AI and biometrics to match consumers’ selfies with their ID photos and open accounts.” https://www.psfk.com/2019/07/facial-recognition-selfie-bank-account.html HooYu- https://hooyubusiness.com