“Banking and Retail are the two industries that will deliver the largest AI investments over the forecast period. Together, the two industries will account for roughly one quarter of all AI spending worldwide. Among the 30 AI use cases identified by IDC, Augmented Customer Service Agents will see the most spending throughout the forecast, reaching…
Tag: Financial Services
US commercial bank Truist acquires tech firm Zaloni’s Arena platform
“Truist will acquire the Zaloni Arena platform, which the firm hopes will accelerate its data governance, metadata management, advanced analytics and artificial intelligence and machine learning (AI/ML) programmes. The Arena platform offers data for advanced analytics and AI/ML use cases using an “intelligent and collaborative” data catalogue, automated governance and “unified observability” that it claims…
Banks Are Cashing In on Embedded AI
“In 2021, McKinsey released a report that found that AI is quickly becoming embedded in financial institutions. The report, which surveyed over 200 senior executives across the globe, found that AI is most commonly used for robotic process automation (36%), virtual assistants or conversational interfaces (32%), and machine learning techniques (25%) to detect fraud and…
ARTIFICIAL INTELLIGENCE IS THE FUTURE OF THE BANKING INDUSTRY — ARE YOU PREPARED FOR IT?
“Today, it’s not a question of how AI is impacting financial services. Now, it’s about how to implement it. That all starts with you. You must ask the right questions: What are your goals for implementing AI? Do you want to improve your internal processes? Simply provide a better customer service experience? If so, how…
AI chatbots offer a way to connect with and engage customers
“Research from McKinsey cites that 25% out of 2,400 business leaders surveyed stated that they increased artificial intelligence (AI) adoption due to the pandemic. In fact, more than half of the respondents in a recent study by Forrester identified more satisfied customers as a top benefit for personalized customer service interactions, such as chatbots. A…