Krish Gopalan founder of Flaist talks about intelligent AI assistants that can not just detect emotions but also be great for companies dealing with angry customers.
Customer service will never be the same, especially in the banking industry where artificial intelligence has taken a giant leap towards understanding human behaviour.
Banks in the Middle East are now testing AI customer service agents that can detect a variety of human emotions, including anger and frustration, over the phone.
If being able to detect emotion wasn’t remarkable enough, this AI is also capable of identifying and understanding different accents, dialects, and linguistics.So if you’re calling from France or Africa, St. Louis or Boston, the AI agent can distinguish between your different pronunciations and respond in a voice to better accommodate you.
Technology like this is increasingly beneficial to the Middle East, where culture gaps between other countries and regions is pivotal in the making of personal connections. The AI is programmed with popular EQ phrases that can help it reduce tension with a customer who is angry or frustrated with the bank’s customer service.
This latest generation of AI technology can even determine which gender the customer prefers to speak with, allowing it to respond with that gender’s voice. All of this is done without the customers knowledge meaning they might not even realize they are speaking with an AI agent. This helps create a more personalized experience the customer is likely to remember and enjoy.
The AI is capable of learning this information thanks to previous customer interactions, which are stored and maintained within the bank’s customer databases, allowing continuous improvement so future interactions can be more meaningful which bridges the relationship gap between banks and their customers.
Our fintechstartup, Flaist, developed this technology earlier this year and we have several patent claims pending. We’ve also been accepted into two different prominent accelerator programs – Techstars Hub71 and Startup Bootcamp Dubai.
The best part about this AI customer service agent is that it is plug-and-play for banks. It’s simple for banks, credit unions and even smaller community banks to install the technology on their back-end as a white label solution. The AI solution quickly integrates within enterprise applications like websites, mobile apps, and social communication platforms with ease. This technology is also customizable, allowing banks and financial organizations to rebrand it under their own name and color schemes on their website and apps such as Facebook messenger and Whatsapp.
The digital toolkit of APIs and microservices that are integrated into this technology help streamline and enhance customer service interactions which helps banks overcome the challenge of creating meaningful relationships with their customers.
The technology can also free up human customer service representatives, allowing these financial institutions to reallocate their resources to other areas. Early pilot programs have shown the AI customer service platform can cut IT costs by up to 25 percent, while providing the bank with new opportunities to sell existing services and increase customer loyalty.
The development of this new AI technology is effectively democratizing the digital transformation process. It’s allowing financial institutions regardless of size and resources to provide quality customer service interactions that compete with all levels of banking.
And the best part, this tech advancement is giving smaller financial institutions such as credit unions, community, and regional banks the resources to access top AI technology and provide better customer service.
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