Artificial intelligence in banking – will it manage your life?
How can Banks help customers manage money throughout their life? In the early days of banking, bankers knew customers and could guide and advise them in person. Today’s digital models have taken away that personal connection. Can we use technology to bring back the human connection? At many levels, Artificial Intelligence (AI) can be leveraged to bring back that connection. AI and machine learning can process a multitude of information about customers, do comparison analysis, and find suitable product/ services that the customers need. This essentially means finding what’s right for your customers and complete set-up steps based upon customers’ consent. Across the world, Financial Services firms are waking up to the possibilities AI can bring to their business. Some banks, for instance, are actively using AI to reduce error…
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