According to Cisco there is £326 billion at stake through digital transformation in retail banking. That’s either in revenue opportunity or cost savings. With the profound shift in consumer behaviour and the growth of social messaging channels as a business to consumer tool, there is an opportunity to enable intelligent, personalised customer interactions with an increased focus on service automation.
After 60 years of broken promises, AI is finally delivering. Backed up by the massive parallel processing capabilities of the cloud, and advances in algorithm design, machine learning and Natural Language Processing, we are at the point where machines can understand – and sensibly respond to – around 95% of our everyday speech.
