AI in banking industry brings operational improvements

There's a reason why people deride banking hours; banks never seem to be open when you need them most, such as later in the day or on holidays and weekends. Fortunately, AI in banking is one of the most impactful applications of artificial intelligence through the use of conversational assistants, or chatbots, to engage customers 24/7. Customers are handling many things using chatbots, even private conversations regarding bank transactions, bank services and other tasks that don't necessarily require human intervention. For example, Bank of America introduced Erica, an AI assistant to help with customer transactions, and the bot has shown significant positive ROI. Many banks have quickly followed suit, although some saw mixed results.