Nationwide is deploying AI for customer experience

Nationwide is the latest financial services firm to lean on AI, as interest in the technology continues to gain momentum among companies in the sector. Last week, Nordic financial services giant Danske Bank enlisted machine learning tech from IBM to help it predict and fix IT systems failures before they impact customers, for example. And this interest is only going to continue picking up pace, with AI-enabled savings in the industry expected to total upwards of $1 trillion by 2030, per Autonomous. However, while the promise of the technology is substantial, we expect to see firms taking a progressive approach in deployment of the tech rather than instant transformation, not least because of the challenges and heavy costs associated with implementing new technologies: Last week, we reported on Bank of Ireland's struggles to rein in the costs of its IT revamp, for instance. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally.