AI Represents a Huge Opportunity for Banks to Transform the Customer Experience: Accenture Report

In the next stage of artificial intelligence adoption, banks will use AI to help understand the intentions and emotions of customers and enable better interactions, according to a new report from Accenture.

The report, Accenture Banking Technology Vision 2017, draws on the analysis of an advisory board of more than two dozen individuals, interviews with technology luminaries and industry experts, and results of a survey of more than 600 bankers.

According to the report, more than three-quarters (78 percent) of bankers globally and 87 percent in India believe that AI will enable simpler user interfaces that will help banks create a more human-like customer experience. In addition, four out of five global respondents (79) percent and almost nine out of ten (87 percent) of bankers in India believe that AI will revolutionize the way banks gather information and interact with customers, and three-quarters (76 percent globally) and 83 percent in India believe that within three years, banks will deploy AI as their primary method for interacting with customers.

 The theme of this year’s report, “Technology for People,” is a call to action for bank executives to design technology to help align their products and services with what consumers want in near real-time. In traditional banks, basic transactions continue to migrate from physical to digital channels, leading to major changes as banks redesign their branch networks and enhance their digital footprint. Four out of five bankers surveyed (80 percent) globally as well as India expect AI to accelerate technology adoption throughout the organization, providing their employees with the tools and resources to better serve consumers.


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