The era where we struggle in vain to convey to an old-fashioned chatbot what we want to achieve in the conversation, and where we are typically redirected to a real person because the chatbot doesn’t understand what we write or say, will soon come to an end. In a short span of time, AI will elevate machine expertise and proficiency to the forefront. This will challenge the traditional customer service function.
An Assistant in everyday life
AI will be able to assist consumers in case processing. This will provide a natural and easy experience for customers. Attempts in the healthcare sector have challenged our general perception of whether presence and patient experiences can be delivered synthetically. In an experiment, patients were divided into two groups, where they had to evaluate their conversation with the doctor based on a set of criteria. One group was guided by real people (doctors). While the other group of patients was guided by AI. Without the patients knowing it. The surprising result was that patients believed that artificial intelligence provided better, more comprehensive, and more empathetic answers than the doctors gave to the patients.
For some quite unsettling reading. It probably shifts our understanding of and expectations for how deeply artificial intelligence is expected to be integrated into the core processes of financial institutions in the coming years.
It will naturally start at the lighter end of the scale, where complexity is low. For example, in booking an appointment, applying for a standard loan, or setting up travel insurance, etc. But gradually, we will see AI taking over more sophisticated conversations and automatically inserting and archiving the relevant parts of the conversation as data in the core systems.
AI creates more issues
In the self-driving car industry, there is a debate about liability if, for example, a self-driving car hits a person. Whose fault is it – the car owner? The car manufacturer? The developer of the self-driving car software?
The same issue of responsibility will naturally arise in the financial sector. Such as when financial institutions implement artificial intelligence and unleash it among their customers. The issue of responsibility will always lurk in the shadow of AI until some more general principles for how artificial intelligence should be legally perceived are agreed upon. Therefore, the process of implementing AI is expected to be supported by humans for a period before it truly takes off.
Therefore, there is a great responsibility on the financial sector to adapt and future-proof the work with artificial intelligence.
These issues were discussed at Nobly Talks 2023.
Expert in artificial intelligence, Thomas Terney, presented his insights on opportunities, threats, and the reality we are all soon going to have to get used to during Nobly Talks 2023. Thomas is known from, among other things, DR’s latest program series on artificial intelligence.
