“Google has highlighted 75 use cases for Artificial Intelligence in retail, ranging from personalized promotional offers to consumer trends analysis and digital shelf space management. According to a study by Accenture, AI can improve productivity by more than 40%. AI is expected to grow from less than $5 billion to more than $31 billion in…
Tag: Brandon McGee
Lakeland credit union partners with AI lending platform
“MidFlorida Credit Union is partnering with Zest AI, an artificial intelligence-powered lending platform that automates the loan approval process. The partnership will expand lending opportunities for the credit union’s 434,000 members throughout the state State-chartered MidFlorida is the second-largest credit union in Tampa Bay, with around $6.05 billion in assets in 2021, 65 branches, and…
Next Best Actions, Offers and Products. Is Next Best Experience the Future?
“Next best action involves the question, “What next step should we take for the customer?” Next best offer asks, “Which is the offer that is going to help and appeal to the customer the most right now?” Next best product identifies the items from your company’s catalog that would be the most logical for the…
The Complex Relationship Between Chatbots and Bank Call Centers
“Making digital banking experiences convenient and easy should be a top priority for all financial institutions. With over 75% of the U.S. population banking online in 2022, according to eMarketer, ensuring that digital experiences are frictionless is imperative to providing overall satisfaction with your customer service. Many banks and credit unions recognize the growing pain…
Unleashing the power of machine learning models in banking through explainable artificial intelligence (XAI)
“The emerging field of explainable AI (or XAI) can help banks navigate issues of transparency and trust, and provide greater clarity on their AI governance. XAI aims to make AI models more explainable, intuitive, and understandable to human users without sacrificing performance or prediction accuracy. Explainability is also becoming a more pressing concern for banking…