5 Ways AI Chatbots Are Transforming the Future of the Banking Industry

Even before the dawn of AI and machine learning, we humans have constantly been searching for ways to get others to do our work for us. At the moment, AI -- and in our case chatbots -- seem like the least disruptive way of doing just that. According to a recent survey done by American Express, 60% of its customers prefer to use websites, chatbots, and other virtual self-service tools to answer simple queries over contacting human representatives. In fact, many companies around the world have warmed up to this practice of using chatbots. Yet, what about its application in the banking sector and what does it all mean for the future of this industry?