Bots and Banks

Industry Insights: Bots and Banks

Artificial Intelligence (AI) and its role in the banking industry

AI is booming, with total revenue expected to grow from $8 billion this year to $47 billion by 2020 (IDC). So far, most banks and credit unions have been cautious about this advanced technology.

One area where AI may be helpful is supporting the customer journey. Where disconnects between the physical and digital interactions can sometimes lead to inconvenience or confusion, AI solutions such as chatbots, UI and virtual assistants may be able to help.

But is the financial services world ready for AI? We’ve rounded up recent articles that examine some currently-available AI technologies, and how they may improve customer service in financial institutions.

About the Industry Insights Series

Alogent’s Industry Insights—this blog and the companion newsletter series—track insights into transformative financial technologies as they happen. Our diverse team of experts pulls the threads together and weave in thoughtful—often actionable—analysis to help banks and credit unions keep their competitive edge and meet new generations of consumers where they’re going next.