Reimagining the human touch with AI: The practitioner’s perspective

Organizations are working relentlessly to make the customer experience at every touchpoint of a transaction as seamless as possible. And the conversation around AI has intrinsically correlated itself with intuitive, human-based customer experiences. The need for identifying and solving customer challenges intuitively and objectively while having access to all possible information pertaining to said needs is of utmost importance in the present economic climate.

Pankaj Kulshreshtha, CEO at Scienaptic AI believes that financial institutions today may be ahead in incorporating the latest technology but there is a gap in how this technology translates into customer experience. Their systems of records (Bureau, databases, core, alt data) need to connect with systems of engagement (CRM, LOS, digital apps) and all of this needs to be powered by systems of intelligence i.e. decisioning systems for every touch point powered by AI. “We hear of instances where an individual with $700,000 of petty cash sitting in his bank account is being offered a $500 credit line. These are instances where despite the seeming intelligence of financial systems, they don’t seem intuitive enough.”

So how do financial institutions solve this problem? The key here, Pankaj believes, is continuous adaptation. “You need to keep in mind that this is not the only time you create a process. You can’t create a model, pack it in a box, and keep it away. This is an adaptive model that needs to keep learning”, he adds.

 

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