Pegasystems helping CommBank, Sprint leverage AI for customer retention ZDNet

Artificial intelligence (AI) is simultaneously overhyped, misunderstood, and already hugely impactful, according to Pegasystems CTO Don Schuerman, who said many organisations were already successfully using the technology before it became an industry buzzword. Schuerman told ZDNet that he has been encouraging his clients to take a look at what pragmatic AI technologies they can employ to deliver real benefits to how they interact with customers, rather than succumbing to the hype. The best example is what the Commonwealth Bank of Australia (CBA) is doing, he said. "They've got Pegasystems' product called the Customer Decision Hub, which uses predictive analytics and adaptive or self-learning analytics to figure out in real time what the best offer or service is, or recommendations are, to put in front of a customer either to improve their satisfaction rate and retention rate, for example," he explained. In implementing the technology, CBA has increased its branch sell rates by 13 percent, which Schuerman said is a significant impact to the business.