Artificial intelligence is a major factor in customer service interactions. However, as adoption increase, it becomes more important that the chatbot functionality allows for near-human interaction. An AI chatbot that can properly ‘read’ the customer can provide a higher, more personable level of service. This can be accomplished through machine learning, by gathering data about trigger words and emotional responses — to help guide the end user towards the emotions you want them to express in relation to your brand.

A recent document produced by Accenture Banking uses a large swath of industry professionals to determine the next steps for fintech and artificial intelligence as a whole. They surveyed over 600 bankers to produce the report, and came to several conclusions based on their data. First, they found that 3 out of every 4 bankers believe that AI will simplify the user experience without detracting from the level of care. The same percentage believes that banking will move towards majority chatbot interaction in the next several years, and that it will completely revolutionize the data gathering industry.

The report goes on to insist that banking technology must advance to a level that the average consumer finds acceptable. Current networks and fintech back-ends are slow, legacy systems that cannot perform to the standards required of them. Instead, the report suggests that AI integration could be one of the motivating factors for increased technology adoption — as bankers will have access to greater information about customer demands. The survey information suggests that bankers believe AI will increase productivity while decreasing overhead costs.

However, the survey also shows what the average banking executive thinks of the negatives. They believe that issues of privacy, compatibility and desire for human interaction will slow the adoption of AI technology. These are not hard stopping blocks, but rather hurdles that must be cleared in the effort towards greater adoption.

Going forward, the user experience or UX will continue to be one of the most important aspects of AI interaction. An artificial intelligence chatbot must be able to adapt to the customer, and the more data gathered in this regard, the better. The chatbot must understand basic human interactions and the guiding forces behind them, in order to properly adjust their responses. Bankers freely admit within the report that they are having difficulty determining their customer’s specific desires — something they believe AI can assist them with.

The adoption of full digital ecosystems will go a long way towards monitoring and acting on customer use patterns. Abandoning legacy banking networks has the added benefit of allowing banks to integrate with compatible systems — including major spending partners. Data analysis within the system can be adapted for all users, and create a personalized profile for each end user. These profiles allow the integrated artificial intelligence to respond in a way that is uniquely suited for each individual customer.

Artificial intelligence chatbots are a powerful tool for banks, and not just because of their data collection ability. These chatbots can almost entirely replace customer service departments. To do so, they need to provide a service of equal or greater value than the human agents they are replacing. This makes personality and customization essential, as the average banking customer will prefer near-human interactions over sterile, robotic responses. Chatbots can work 24 hours a day, 7 days a week — but they must also provide quality service, or customers will ultimately respond poorly to the attempt.

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