Artificial intelligence (AI) and voice-enabled technologies have the potential to transform the financial services industry and help customers in extraordinary new ways. Enterprises are already doing more with these technologies than customers realize, as Visa’s head of Innovation, Mark Jamison, found when he sat down with three clients from around the world who are using next-generation technologies in their businesses:
- Nathan Anderson, EVP/COO, Mountain America Credit Union
- April Clobes, CEO & President, Michigan State University Federal Credit Union
- Jaimee Salmon, Head of Emerging Channels, National Australia Bank Limited
Jamison: Here in Silicon Valley you can’t walk 10 feet without hearing someone talk about AI. The term is moving so fast that it means different things to different people. What is your current perspective on AI?
Anderson: We view AI as an opportunity to drive cost out of the ecosystem and to replace processes that are manually driven. We heard many predictions in our industry: ATMs and mobile would significantly change banking, new developments would take away the need for branches and people – the reality is that each one of these has created new ways for people to transact and interact. AI will allow us to provide better services to people, adding insight and education to allow us to automate a number of back office procedures. This makes us more efficient while providing better service.
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