“Of all the award categories in the Banking Innovation Awards run jointly by Accenture and Efma, the prize for “Best Use of Analytics and Artificial Intelligence” is one of the most coveted.
The winner was CaixaBank of Spain with its chatbot Neo – a personal customer service assistant developed using AI, and now providing support 24×7 across various business processes in Spanish, Catalan and English.
Neo’s cognitive system accepts more than 60,000 inputs
Between its launch in February 2018 and the awards in October 2019, more than 2.5 million customers had conducted 23 million conversations with Neo,
85% of queries settled without further engagement and a 20% reduction in calls to the contact centre.”
“Hogan notes how, in many respects, eCommerce paved the way for AI. Data collected for things such as advertising helps to train neural networks. In addition, eCommerce firms have consistently aimed to improve and optimise their algorithms for things such as recommendations to attract customers.
Nvidia has a machine called the DGX-2 which delivers two petaflops of performance. “That is one server that’s equivalent to 800 traditional servers in one box.”
Hogan says this has saved Walmart tens of billions of dollars. “This is just one example of how AI is making an impact today not just on the bottom line but also the overall performance of the business”.
Accenture is now detecting around 200 million cyber threats per day, claims Hogan. He notes how protecting against such a vast number of evolving threats is simply not possible without AI.”
“In the future, however, we will have top-down systems that don’t require as much data and are faster, more flexible, and, like humans, more innately intelligent. A number of companies and organizations are already putting these more natural systems to work.
Common sense. A variety of organizations are working to teach machines to navigate the world using common sense—to understand everyday objects and actions, communicate naturally, handle unforeseen situations, and learn from experiences. But what comes naturally to humans, without explicit training or data, is fiendishly difficult for machines. Says Oren Etzioni, the CEO of the Allen Institute for Artificial Intelligence (AI2), “No AI system currently deployed can reliably answer a broad range of simple questions, such as, ‘If I put my socks in a drawer, will they still be in there tomorrow?’ or ‘How can you tell if a milk carton is full?’”