Luther.AI is a new AI tool that acts like Google for personal conversations

  • “Luther.AI, which purports to be Google for your memory by capturing and transcribing audio recordings, while using AI to deliver the right information from your virtual memory bank in the moment of another online conversation or via search.
  • It starts by recording your interactions throughout the day. For starters, that will be online meetings in a browser, as we find ourselves in a time where that is the way we interact most often. Over time though, they envision a high-quality 5G recording device you wear throughout your day at work and capture your interactions.“

Image Credits: Jan Hakan Dahlstrom / Getty Images

Global Conversational AI Market Worth $13.9 Billion by 2025

“The Global Conversational AI Market is Expected to Grow from 4.8 Billion in 2020 to USD 13.9 Billion by 2025, at a Compound Annual Growth Rate (CAGR) of 21.9% During the Forecast Period.

Increasing demand for AI-powered customer support services, omnichannel deployment, and reduced chatbot development cost to drive the growth of Conversational AI market”

Are consumers ready for conversational digital banking experiences?

  • “Digital banking is evolving at an incredible pace and, while customers will continue to crave the versatility offered by evolving in-branch experiences (Chase’s new Manhattan emporium now offers a ‘digital advice bar’ and after-hours community Chase Chats), the technology is quickly closing off the need for customers to step foot through the door.
  • As conversational AI or chatbot technology continues to advance, customers will see a shift away from mobile banking to conversational user interfaces (CUI). If they prefer, all interactions could be carried out by simply chatting (typing or speaking) to a CUI.”

Are consumers ready for conversational digital banking experiences?

US Bank deploys smart assistant to boost digital banking

  • “U.S. Bank has launched a service called the U.S. Bank Smart Assistant, marking the latest financial institution to incorporate AI-based voice commands into its mobile banking app.
  • “Our Smart Assistant has been under development for 18 months — with the goal of continuing pushing our customer experience forward so our customers can bank where and how they want.”
  • “For those staying home due to the pandemic, the Smart Assistant will be able to help take care of common tasks without going to the bank.”
  • Digital has become increasingly important at U.S. Bank, accounting for 75% of service transactions and 46% of loan sales.”

Conversation intelligence startup raises $45M in Series C funding

“ said its software has become even more valuable to sales teams thanks to the coronavirus pandemic, as business deals have become more heavily scrutinized. The company recently published data that shows a 91% increase in the number of buying side chief financial officers joining calls since January and a 77% increase in director-level professionals joining calls.”