At this year’s BankAI, practitioners and business leaders will share how they’re deploying AI in the real world and overcoming the hurdles that crop up.
Session: Is Conversational AI Fulfilling Its Promise in Banking?
Speaker: Emmett Higdon, Director, Digital Banking
Emmett Higdon Director, Digital Banking, Javelin Strategy & Research Conversational AI has been heralded as an effective, efficient new consumer interaction method that promises to deliver greater consumer engagement, personalized product offers and account insight, and reduced call volume and higher customer service satisfaction. As with many new technologies, the reality has not quite lived up to the hype so far. However, it does not also mean that digital banking consumers have not seen better experiences delivered through the marriage of deep customer data and artificial intelligence.
The challenge currently facing the industry is managing customer expectations and exposing clear consumer value in what is being delivered through the first generation of customer-facing automation and machine learning. Do consumers really care that much about how much they spent at Starbucks last month? Is that actionable insight that helps me better manage my account?
Join us for an honest assessment of how well the industry is currently meeting the promise of conversational AI (hint: poorly) and what hurdles are ahead in opening customers’ eyes to the convenience and contextual insight that is headed their way. Trying a new virtual assistant for the first time and turning to that assistant every time that you have a question are two ends of a consumer adoption cycle that is longer than most bankers, or fintechs, care to admit. We’ll examine a few of the current big bank mileposts, handicap what’s ahead, and still make you a believer in the promise of conversational AI.