From High-Tech to High-Touch
How Artificial Intelligence Empowers Financial Institutions to Humanize the Digital Customer Experience
A brief introduction
The age of artificial intelligence (AI) is, in many ways, no longer something in the distance; it’s already here. From filtering email spam to analyzing checks for mobile deposit, AI is becoming ingrained into daily life in ways both seen and unseen. Whether we notice it or not, AI-powered conveniences are quickly transforming into baseline expectations, putting pressure on industries to deliver on them sooner rather than later.
For financial institutions, the arrival of tools driven by AI has raised the bar for the customer/borrower experience in particular. Where digital tools can replace traditionally human touchpoints with a faster, more satisfying experience, they’re expected to do just that.
But knowing where these opportunities lie, and making smart decisions about deploying AI, relies on understanding exactly what AI is, how it applies, and how to utilize it to retain the hightouch human experience people expect.
In this guide, we’ve stripped away the complexities of AI to arrive at a simple, functional definition before diving a little deeper to dispel common myths, highlight the opportunities for financial institutions, and offer a few examples of how AI is being implemented to meet and exceed evolving customer expectations.