Robot chat dirty in america
The first generation of chatbots in financial services has yet to win over the majority of consumers.But as the technology improves, banks and payments companies foresee a variety of roles and abilities for these virtual assistants.Bank of America's soon-to-be-released chatbot, erica, is being trained to provide personal-finance advice.For instance, the bot will detect if a customer's credit score has dropped, and, thanks to a partnership with Khan Academy, a provider of free online courses, might recommend ways to bring it back up.Such advances won't happen all at once, experts say."We're investing in artificial intelligence and other technologies so that we can make these services smarter, more adaptive, to continue to learn over time," Sueoka said. That's not something that's going to reach maturity in a few months.That takes years to really develop and refine."Thinking less and learning more For banks, the goal of better chatbots sounds like a paradox: to empower people to spend less time thinking about their financial obligations while nevertheless making better financial decisions. They learn more about customers from their interactions with bots, and this allows the bank to offer targeted products and services, says Jared Johnson, a principal digital strategist at Solstice, a mobile-tech consultancy.American Express is also dipping its toes into bot-assisted transactions.Last fall, the card company updated its chatbot so that it could store card information for users, making it possible for them to use the card for purchases on Facebook.
'—that's different, and most chatbots aren't ready for that," Ellis said. Not just predictive data but specific actions on that predictive data."When American Express launched the first iteration of its chatbot on Messenger in August 2016, all it could do was alert users to recent transactions and inform them of relevant card benefits and services.
But to interact with a bot like Wells Fargo's, customers have to share their accounts with it.
With the full breadth of a customer's financial life open to the bot, it should be possible for a financial institution to attain the long-sought bird's-eye view of the customer's behaviors and act on it.
The bot may provide methods by which users could save more or slash their debt.
This is admittedly still a far cry from a chatbot that can serve as a wholesale financial adviser in the context of a natural—or natural-seeming—conversation.