Artificial intelligence and the ability to work with unstructured data like voice and images can help customer service department operating in financial institutions. Artificial intelligence (AI) is great to analyze images and also compliments well with natural language processing (NLP), so this can prove to be beneficial.
The use of Artificial Intelligence in Banking helps process natural language, thus helping the banks from back doors to interact with their customers. The call center banking transactions can analyze the language detecting emotional nuances from the speaker.
It can also differentiate between linguistic differences between American and British English plus other languages as it understands the emotional nuances and slang terms different groups have in their vocabulary and culture.
If the sentiments of the customers are understood and addressed, it makes easier for the bank to conduct business with them. Bank’s customer services are aided by AI’s real time feedback. They are able to understand the concerns which cannot be expressed directly.
The AI models are available in multitude of languages. The maker company is always on the lookout to remodel it according to the demand and need with the assistance of machine learning (ML). Thus the result one gets is high quality NLP that aids in bettering the customer and call center front line employees’ relationship leading to a better bank and customer relation.
AI engines is also helping on the loans and billing side otherwise document reviews are time consuming and manual. AI can read the document, understand its information, and extracts relevant information to make a loan recommendation to the underwriter to take reviews final decision.