Financial Institutions Benefit from AI, But Consumers Remain Skeptical

There's no doubt that retail banking leaders understand the potential of artificial intelligence technology to improve customer experience. Nearly every one (94%) of more than 300 banking and insurance executives surveyed by The Capgemini Research Institute agreed that improving CX is the key objective behind launching new AI-enabled initiatives. In fact, more than half of the international sample say that at least 40% of customer interactions are already enabled by various AI applications, including conversational agents, prescriptive modeling, process automation, and complex analytics. That would be impressive -- except for one thing: Half of more than 5,000 consumers polled by Capgemini worldwide feel that the value they receive from AI-powered financial interactions was "non-existent or less than expected." What about in the U.S., the land of "Erica" and "Eno" and other digital assistants, and the many advanced mobile banking apps?