“To overcome this challenge, data exploration and extraction will become vital and prove a turning point for banks in 2022. We’ll see banks undergo large-scale data exploration programs to scruntize and examine the data they retain so they can fully understand their data assets. This includes everything from transaction and payroll data through to foreign…
Tag: personalization
For AI to Pay Off, Financial Institutions Must Avoid ‘Shiny Object Syndrome’
“Artificial intelligence is not just a fad, but implementing it wastes time and money if financial institutions don’t clearly identify what specific problem AI will help them solve. Define what’s wrong first, and then decide if applying this hot technology will really help. Organizations must be careful not to fall in love with a solution…
CMOs: 5 Key CX Trends To Harness In 2022
“Trend 1 –Avoid ‘Digital inconvenience’ ‘Customer experience is like an unfinished piece of art. You’re continuously working on creating perfect convenience, but the reality is it will never truly be finished. actively seek out dissatisfied buyers to try to better understand them, learn from any mistakes and invest in making their experience better.” Trend 2…
The Future of Conversational AI in Banking
“‘Virtual assistants can and should go well beyond a ‘point in the right direction’ or FAQ to handle complete transactions — from changing an address to cancelling a payment and updating a standing order to identifying a specific need and routing the customer to correct specialist,’ says Can Kekevi (Accenture). The future of conversational AI…
3 Areas Where AI Will Boost Your Competitive Advantage
“Real-time optimization has an immediate, and often dramatic, impact on companies’ bottom lines. One retailer we worked with increased its profit margins by 50% after using AI to instantaneously optimize its offers. It expanded sales of core products with AI-developed, margin-driving promotions and halted margin-destroying special deals — all without investing much lead time in…