“The company saw uptake of its Erica for Employees virtual assistant spread to more than 90% of its 213,000 employees in April. The tool, which was introduced in 2020, has since cut the number of IT service calls by half, Bank of America said.” Read more >>
Tag: conversational ai
AI Moves Banks From Solving Problems to Building Experiences
“What Cognitive Banking Is Cognitive banking refers to embedding AI-driven inferencing and pattern recognition on top of permissioned data (transactions, financial behaviors, linked accounts) so that banks can shift from reactive servicing to proactive guidance. Rather than waiting for customers to navigate menus or submit queries, cognitive banking systems sense intent, flag opportunities, and offer…
Taco Bell is having second thoughts about relying on AI at the drive-through
“Taco Bell’s chief digital officer says the company is having an ‘active conversation’ about when to use and not use AI. The company has apparently rolled out voice AI-powered ordering at more than 500 drive-throughs, leading to unflattering viral moments like…” Read more >>
AI Banking Chatbots: From Frustration to Delight
“Lessons for the Next Generation of Chatbots As chatbots evolve into a new generation of sophisticated, agentic AI applications, banking leaders should consider how consumers interact with and feel about them now. Addressing challenges—such as improving response accuracy, enhancing personalization, and ensuring greater reliability—will likely be important. Banks should also improve the precision and contextual…
Ai Weekly – Aug 10
How agentic AI can change the way banks fight financial crime “AI, specifically agentic AI, could be the antidote to KYC/AML headwinds. In this article, we map the AI landscape and examine options for implementation, highlighting how some leading institutions have deployed the technology to their advantage. Our key conclusion is that AI offers transformative…