I’ve been looking at how and why the banking contact center experience must change to accommodate the needs of the digital customer. Some of the most powerful tools banks have to revolutionize their contact center experience are intelligent machines and other types of artificial intelligence (AI) technologies, which are rapidly maturing.

Working alongside humans in the digital banking relationship center, intelligent machines and AI will transform everyone’s experience—remaking the future of service and the future of work. Seventy-seven percent of respondents in our Technology Vision 2016 expect AI to be a significant change or complete transformation for banking over the next three years. Also, 86 percent agree that the widespread use of AI delivers competitive advantage beyond cost.

The human and machine story is not an us-versus-them tale. Intelligent machines are essential to the future contact center workforce because of complementary capabilities. With advanced analytics, they will arm advisors with invaluable insights from internal platform data and ancillary data from external sources, such as social media that can provide insights about customer habits and preferences.

Intelligent machines also augment the human workforce in areas such as emotional intelligence. These self-learning machines can recognize and translate tone, emotions and expressions to empathize with customers and address their needs.

Retail banks are accelerating adoption of these advanced capabilities. Banks are investing in intelligent technologies that go beyond cost reduction—they will drive transformation for workers and customers alike.

According to Accenture research, banking organizations increased their spending from 2013 to 2015 in areas like tonal recognition and natural language processing (69 percent), embedded AI solutions that auto-adjust to users’ needs (77 percent), and predictive capabilities including deep learning (78 percent).

My final post in this series will consider some steps banks can take to reinvent their customer contact centers.

Read more: From contact center to relationship center

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