China's first web-only bank hopes A.I. and robots can improve customer service

China's first web-only bank hopes artificial intelligence can improve customer service through the use of virtual robots powered by technologies such as facial recognition, speech recognition and natural language processing. AI is "there only to improve human services," Yang Qiang, an AI consultant at Tencent's WeBank, told CNBC's Arjun Kharpal at the East Tech West conference in the Nansha district of Guangzhou, China. "Automated service is not an enemy to human services," he said. "They should work side by side." In addition, advances in technology create possibilities for greater efficiencies in traditional bank roles such as processing loan applications, risk analysis and offering personalized service, he said.