Using analytics and AI for a better banking experience | Accenture

  • “Of all the award categories in the Banking Innovation Awards run jointly by Accenture and Efma, the prize for “Best Use of Analytics and Artificial Intelligence” is one of the most coveted.  
  • The winner was CaixaBank of Spain with its chatbot Neo – a personal customer service assistant developed using AI, and now providing support 24×7 across various business processes in Spanish, Catalan and English. 
  • Neo’s cognitive system accepts more than 60,000 inputs
  • Between its launch in February 2018 and the awards in October 2019, more than 2.5 million customers had conducted 23 million conversations with Neo,
  • 85% of queries settled without further engagement and a 20% reduction in calls to the contact centre.”


Artificial intelligence jobs on the rise, along with everything else AI

“AI conference attendance – In 2019, the largest, NeurIPS, expects 13,500 attendees, up 41% over 2018 and over 800% relative to 2012.

AI jobs – the share of AI jobs in the US increased five-fold since 2010

Compute capacity – Post-2012, compute has been doubling every 3.4 months — a mind-boggling net increase of 300,000x.

Training time – it now can happen in almost 1/180th of the time it took just two years ago

Computer vision – the accuracy of image recognition by systems has reached about 85%, up from about 62% in 2013.

Photo: Joe McKendrick

4 Simple Rules to Make AI Chatbots a Force for Good

  • “Business Insider experts predict that by 2020, 80 percent of enterprises will use chatbots.
  • After all, chatbots can reduce your customer service costs by 30 percent. 

Let’s take a look at four rules to make chatbots a force for good, shall we?

1. Respond like a human, but don’t pretend to be one.

2. Be wise when choosing an AI vendor.

3. Get an idea about how conversational AI works.

4. Focus on improvement”, An MIT And Penn Voice Transcription Startup, Raises $5M From Canaan Partners

  • “Sam Udotong and Krish Ramineni have created, a meeting and recording transcription software-as-a-service (SaaS) company, to provide users with automatically generated transcripts of their conversations.
  • Various sources estimate the voice and speech recognition market to be anywhere from $25 to $32 billion.”

Sam Udotong

Co-Founder at

Krish Ramineni

Co-Founder at

How Comerica Bank is Tapping Voice AI to Improve Its Call Centers

  • “The first stage, voice AI, was fully implemented for consumers for retail banking and tech service desk queries in 2018 and thus far has improved customer support efficiency by over 50%
  • ‘When we launched VoiceSafe we started learning more from some of our initial calls,’ he continues. ‘We found there were gaps in our dialog design. So we started making updates almost nightly, in order to make sure we captured some of the low-hanging fruit and addressed other gaps right out of the gate.’
  • “Business banking conversations are often very consultative in nature, and they tend to be particularly ‘context heavy’,” says Varanasi. At this time Comerica is not using voice AI on the business side.”