AI for Financial Services, 2020 and Beyond

Chatbots in Financial Services haven't delivered what we expected. So, what’s next? The world’s media is littered with articles stating that Covid-19, and the sudden emptying of call centres, has driven organizations to implement AI to cope with the increased burden of customer contact. All this, whilst in tandem reducing the cost of doing so. Additionally, business continuity has become a board room imperative. AI is now seen as a potential opportunity to create future stability and the financial services sector is not immune to this pressure. However, by 2020 most financial services organisations had already made significant investments in AI technology with the expectation of increased customer service, dramatically lower costs and a much-reduced reliance on large and expensive call centres. But it didn’t work to plan. In this enlightening presentation Chris Tew and Alex Hoffman will discuss why most of today’s AI technology isn’t up to the current industry requirements and what financial services organisation need to think about, now and tomorrow. Topics covered include: • What’s the root cause of such an AI failure to date? • How to address the current issues presented by Covid-19 • What are the opportunities for AI future innovation?