Conversational AI Solutions for the Banking Industry

AI, or artificial intelligence, is more than a buzzword; it drives real solutions across myriad industries, including banking. And AI’s arrival is perfectly timed to help solve challenges brought on by the COVID-19 pandemic.

Kathy Crumley, Global Market Lead, Banking & Payment Enablement at Intel, and Vicki Milhoan, Solutions Engineer at Intel, spoke with To the Edge and Beyond about how technology, driven by the digital transformation of AI, machine learning, and relevant form factors such as kiosks are set to reshape the banking experience for millions of customers.

“Without question, COVID has been the single most disruptive hit to the banking industry in, most likely, the last century,” Crumley said. But, if there is one silver lining, the pandemic is fast-tracking some banking payment modalities, such as contactless transactions, that may have taken years to catch on in the United States.

According to Crumley, the top three focuses for bank branches are modernizing and transforming bank design, increasing the number of assisted self-serve devices and terminals, and cross-channel integration from an on-premise technology, as well as a mobility technology.

There are several in-demand use cases where a conversational AI is targeted and delivers an excellent solution in self-service kiosks. From opening a new account to bill pay and check-in appointments, there are many ways this new technology is helping consumers do more.

How are these kiosks, and the data provided from these interactions, enhancing the customer experience?

“Indicators are showing that customers are using the kiosks as another tool in their toolbox,” Milhoan said. “With more data, we’ll be able to understand each customer better, and we can provide more tailored solutions on what they can do at the kiosk. We can also evaluate those kiosk services being used less.”

There are plenty of opportunities to add, change and improve kiosk services with more accumulated data.

Learn more Intel-based banking solutions by connecting with Kathy Crumley and Vicki Milhoan on LinkedIn or visit https://www.intel.com/banking.

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