Tech Time: Is integrating conversational AI into your MX flow worth it?

Meet Gene and Fran, $6 billion MSUFCU’s internal and external virtual support agents—next-gen chatbots that play a critical role serving the CU’s 300,000-plus members and staff alike.

Next-gen conversational artificial intelligence has arrived, and financial institutions ranging from major banks to small community credit unions should take note of how investing in this technology can help mitigate existing problems and provide the capacity to fuel growth even further than currently possible.

Unfortunately, the first generation of conversational AI left a bad taste in the mouths of many organizations due to its cost and underwhelming capability, among other pain points. Today, the biggest shocks—and sometimes major misconceptions—related to the potential use cases of conversational AI in member and employee experience workflows are the positive advancements in the time it takes to onboard, the cost-benefit ratio and the scalability. At Boost.ai, we are now working to overcome these misconceptions based on first-gen experiences through the simple breakdown of successful use cases where our customers have seen remarkable returns and impact.

No-Code Solutions Are a Credit Union’s Best Friend

Many consumers have moved to digital-first service options, and it’s much easier to meet them where they already are. Furthermore, change is inevitable, and looking for dynamic solutions that can adapt as your needs change is integral to providing better member experiences. Such dynamic offerings are often costly, but no-code solutions keep costs low without sacrificing crucial components to meet evolving member needs. With no-code, current staff members can become your conversational AI experts without requiring additional internal software engineers on the payroll. Technology budgets are often tight, so it’s best to seek out solutions that are low-cost with high reward.

 

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