Can conversational AI make your customers happier?

  • “An APAC survey by Forrester showed that 32% of chatbots were most effective in resolving customer queries. However, the survey also showed that 80% of chatbots produced more negative than positive experiences, while 75% of virtual assistants and 85% of speech-enabled virtual assistants also led to poor customer experience.”

Hyper-Personalised Banking: 3 Merits for Linking with Conversational AI

“There are various ways in which conversational AI fits in the hyper-personalised banking for hassle-free customer experience.

Four reaping benefits of hyper-personalised banking system are:

  1. High number of pages conversion
  2. Increase in customer trust and loyalty
  3. Reduction in sales time
  4. Providing services to ease decision-making process”

Microsoft in Talks to Buy AI Firm Nuance Communications

  • “Microsoft Corp. is in advanced talks to buy artificial intelligence and speech technology company Nuance Communications Inc., according to people familiar with the matter.
  • ‘This can really help Microsoft accelerate the digitization of the health-care industry, which has lagged other sectors such as retail and banking,’ said Anurag Rana, a Bloomberg Intelligence senior analyst. ‘The biggest near-term benefit that I can see is in the area of telehealth, where Nuance transcription product is currently being used with Microsoft Teams.’”

Conversational Banking Is a Competitive Necessity in a Remote-Everything World

  • “For financial institutions that have yet to adopt conversational banking, the potential user base already exists. Nearly two-in-five U.S. adults are now users of smart speakers, such as Amazon Alexa or Google Home.
  • In November 2020, eMarketer estimated that 128.0 million people in the US used a voice assistant – 44.2% of internet users and 38.5% of the total population.
  • The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, according to Autonomous Next research. Notably, the front office (conversational banking) and middle office savings account for $416 billion of that total.”