Wells Fargo partners Google Cloud for AI virtual assistant, Fargo

  • “Wells Fargo is set to rollout a new virtual assistant, named Fargo, which will leverage Google Cloud’s artificial intelligence (AI) capabilities to offer a personalised banking experience for customers.
  • Citing research conducted this summer by Ipsos on behalf of Wells Fargo, the bank says nearly two thirds (65%) of millennials and Gen Z respondents prefer to use a virtual assistant for customer service needs rather than waiting for a customer service representative on the phone.”


A Decade of Dramatic Change in Digital Customer Experience

  • “In 2019, SOTI’s Annual Connected Retailer Survey indicated that US consumers prefer speed and convenience when shopping, and 73% of those surveyed favored self-service technologies that improve the shopping experience and reduce interactions with staff.
  • Michael Wallace, senior manager of Amazon Connect Scaling Solutions Architecture at Amazon Web Services (AWS), told CMSWire that the 2022 ACA (Achieving Customer Amazement) study revealed that 59% of customers think customer service is worse today than it was before the pandemic.”


The Strategy Behind Truist’s New AI-Powered Digital Assistant

  • “Launching a digital assistant enabled by artificial intelligence is noteworthy by itself. More significant: ‘Truist Assist,’ built from a clean slate in a year’s time, and tightly integrated with the bank’s contact center, signals the giant merger of equals that created Truist Financial is (finally) starting to click.
  • Some digital assistants in banking have ‘personas,’ the best known of which is Bank of America’s ‘Erica.’ Capital One has ‘Eno’ and RBC has ‘Nomi.’ Based on customer feedback, Truist opted to go with the more functional ‘Truist Assist,’ following the example of Ally Assist, Smart Assistant (U.S. Bank), and Chase Digital Assistant.”


Chipotle is moving its tortilla robot to a real restaurant

  • “Chipotle’s tortilla-making robot will soon help out in a restaurant you can visit. The chain has unveiled a slew of technology updates that include moving the Miso Robotics-made Chippy robot to a real restaurant. The machine will start cooking tortilla chips in a Fountain Valley, California location in October.
  • Chipotle is piloting a demand-based cooking system that uses AI to tell staff what and when to cook based on forecasts for how much they’ll need. In theory, this lightens the load for employees while making sure there’s enough freshly-cooked tacos and burritos when you show up for dinner.”


Start talking: The true potential of conversational AI in the enterprise

  • “Best understood as a combination of AI technologies — Natural Language Processing (NLP), Speech Recognition, and Deep Learning — conversation AI allows people and computers to have spoken or written conversations in everyday language in real-time. And, it is seeing good demand, with one source projecting that the market will grow 20% year on year to $32 billion by 2030.
  • Popular enterprise use cases for conversational AI include the IT helpdesk where a bot can help employees resolve common problems with their laptops or business applications; human resource solutions for travel and expense reporting; and recruitment processes where a chatbot guides candidates through the company’s website or social media channel.”