Chatbots in Banking Got Smart. This is How They’ll Make Your Bank Better

Image credit: SalesForce

“Technology is driving personalization, and the combination of data, conversational banking and AI make it increasingly accurate the more consumers use it. It’s a perpetually evolving experience over time. Banks aren’t investing in conversational banking and AI to drive customers to self-serve, low cost channels or to avoid interacting with the customer. They’re using it to improve their service by empowering consumers to engage in the way that they want and connect with the bank on their own terms.”

How AI Lets Retailers Like H&M Hyper-Personalize Their Ecommerce Experience

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.”

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, with “2 million live data connections” currently helping to feed its algorithm.”