“According to a recent Gartner report, by 2027 chatbots will become the primary customer service channel for roughly a quarter of organizations. Over half (54%) of survey respondents said they are already using some form of chatbot, virtual customer assistant (VCA) or other conversational AI platform for customer-facing applications. Myth 1: Conversational AI chatbots are…
Tag: AI
Data is the key to overcoming the ‘new digital divide’
“‘It’s very clear that in this environment, which is changing at unprecedented and unexpected levels, that agility and the productive use of data has become more important than ever,’ said Svenja Falk, managing director at Accenture Research Supheakmungkol Sarin, head of data and AI ecosystems at the World Economic Forum, identified four ways companies can…
Banks Are Cashing In on Embedded AI
“In 2021, McKinsey released a report that found that AI is quickly becoming embedded in financial institutions. The report, which surveyed over 200 senior executives across the globe, found that AI is most commonly used for robotic process automation (36%), virtual assistants or conversational interfaces (32%), and machine learning techniques (25%) to detect fraud and…
You Need To Stop Doing This On Your AI Projects
“One of the biggest reasons for AI project failure is that companies don’t justify the use of AI from an return on investment (ROI) perspective. Simply put, they’re not worth the time and expense given the cost, complexity, and difficulty of implementing the AI systems. Management guru Peter Drucker once famously said, ‘you can’t manage…
ARTIFICIAL INTELLIGENCE IS THE FUTURE OF THE BANKING INDUSTRY — ARE YOU PREPARED FOR IT?
“Today, it’s not a question of how AI is impacting financial services. Now, it’s about how to implement it. That all starts with you. You must ask the right questions: What are your goals for implementing AI? Do you want to improve your internal processes? Simply provide a better customer service experience? If so, how…