“The five-year-old company was founded by technology entrepreneur Greg Cross and Academy Award winner Mark Sagar, and has been using AI to create ‘autonomously animated digital people’ for digital workforces.
‘Global brands are investing more in how AI can create an intimate, personalised experience with their customers at scale.’”
“Think about personal finance apps such as Cleo, which allows users to track spending and saving through interactions with a chatbot.
Digit, which automatically decides how much its users can afford to save based on their income and outgoings and moves an appropriate amount into their savings account every month.
Swedbank, one of Sweden’s largest retail banks, initially created its virtual assistant to help its agents find the right answers to customer queries. Soon, however, it put its VA to work on its website—where it now answers more than 80% of customer questions directly and supports personalised services like balance enquiries.
Another great example is BNP Paribas Personal Finance Spain, which launched its VA to meet a dual objective. ‘With our virtual assistant project, we seek to achieve the most important improvements for any customer service model: greater customer satisfaction and increased efficiency,’”
“Cognitive systems use AI technologies to help banks leverage their data to deliver insights about themselves, their customers, and their competitors. Intelligent digital assistants are the critical enabler of cognitive banking for customers, enabling users to better understand and manage their money, and make better financial decisions.
Digital chatbots are simply reactive, waiting for a user to ask a question, and they’re highly impersonal — a millennial in the early stages of their career and a multi-millionaire get the same generic response.
When you leverage cognitive banking you’re offering your users an AI-powered solution that’s sophisticated enough to answer whys — why a customer’s balance is low, what deposits will bring them back up into the green, and so on, and then offer personalized advice about managing bills, increasing savings, and more.”
“Increasing demand for Business Process Automation (BPA) through the use of AI and software robots is considered to be the key growth-driving factor for the market. In 2017, global Robotic Process Automation (RPA) market size was valued at $357.5 Mn and is expected to register at a compounded annual growth rate of 31.1% over 2018-2025, according to a market research report.“