AI making inroads in financial services sector, but not without difficulty

Artificial Intelligence (AI) is making inroads in the financial services sector, but not without difficulty, and there's still a lot of work to be done before it reaches its potential. This is according to a new report called Smart Money: How to drive AI at scale to transform the financial service customer experience, recently published by the Capgemini Research Institute. The report states that AI is being used at scale among financial services organizations to improve the overall customer experience (CX). Approximately half of customers now interact with an AI on a daily basis, and banks are reaping the benefits: they've reduced cost of operations (13 percent) and increased revenue per customer (10 percent). However, while banks may be reaping the benefits, the customers – not so much.