Artificial Intelligence is all about identifying patterns and then delivering services that are customised and ensure a satisfying customer experience. And, one sector that needs this service desperately is banking. While some think AI is new, it has been driving the sector for long. The benefits of AI in banks and credit unions are widespread, reaching back office operations, compliance, customer experience, product delivery, risk management and marketing to name a few.
World’s largest technology players, Apple, Google and Accenture, have realised that Artificial Intelligence is and will be developed as the new User Interface. But, why?
In a recent event Accenture Technology Vision 2017, one of the most talked about trend was AI. One of the most important chapter discussed about how AI is the new UI. This is because with the developments AI will soon become the underlying technology capability that will drive enterprises and day-to-day working of people, alike. Interestingly, this will become a common platform for engagement between both customers and employees.
According to the speakers at the event, AI will be the new digital spokerperson for enterprises to interact with their customers. This platform will give customers to get a completely customised and personalised way of looking at the brand and interacting with it too.
A report suggests that in the 12 developed economies analysed, AI has the potential to double growth rates by 2035. This can only be achieved if the solutions are developed using the people-first approach that is business-oriented as well as technology-rich.
Ask how? Think talking to Google Now, interacting with chat bots on PCs, or even giving command to the automated home bots to operate your home. These are some of the easiest examples where people are interacting with the technology through an AI interface.
So, going further, it will be AI that we will be talking to, asking for things and giving commands.
Who will benefit?
This interface will not only prove to be a boon for customers, it will be an equally exciting for brands, too. Interestingly, it will expand the human-like interaction like never before. AI is already a curator, collecting and interpreting large amounts of data and then studying it using Machine Learning. Going further, manufacturers will depend on AI to keep a keen eye on the manufacturing and even delivering of products. Think about a system that tells you about upcoming weather updates, travel routes and even saved reminders for certain deliveries. All this will be held by a technology driven dashboard rather than a human mind or a book.
Hence, AI would turn into an advisor, too. “In the auto insurance industry, for example, adjusters use Tractable’s deep learning systems to simplify the triage process after a car accident. Instead of manually scanning pictures, they use machine-trained estimates for repair costs, enabling agents to accelerate a claim past triage and into repair, salvage, or appraisal,” a blog at Accenture reads.
The blog further reveals that in more advanced stages AI will become an orchestrator. It will bring together different channels, learn from the interactions and then create and execute new tasks.
This brings us to the understanding that AI, which is driven by Machine Learning, opens up new horizons for various industries to explore the technology. For those aspiring to be in the league of Machine Learning, new opportunities are waiting for you. And to give you a kickstart we have a 6-weekend training class. Held in our Bengaluru headquarters, these classes let you learn theory and put it to practice on live projects.
What’s more? There is a voluntary internship programme for those who complete the course. Work on our live projects and get real exposure to industry projects and corporate standards.