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AI: What it Means to Advisors Now - SEI's Practically Speaking

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When you are trying to work out what will be the impact of a new technology, the conventional wisdom is that less will be in place than you think three years from now, and more will be in place in ten. I suspect that this is true about the way that AI will affect advisors. This is the last of an arc of posts that Russ Kliman, SEI's Head of Strategic Programs and Innovation and I have put together on AI. What is real about AI for advisors, and when we might see this technology impacting our practices and clients? We will also look at specific firms to see their differing approaches.


AI: the game changer for financial services marketing

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Organisations operating within the financial services industry – such as banks, credit unions and hedge funds, to name just a few – are supposed to be some of the most trusted businesses in existence. Well, for one, they handle and transfer extremely sensitive and personal information on a daily basis. And, oh yeah, they happen to look after all of your hard-earned cash. However – and somewhat ironically – one of the primary challenges facing the financial services industry currently is trust. According to CISI, only 40% of people would trust a financial adviser when it comes to planning advice.


MEDICI 15 Leading AI-Powered Chatbot Solution Providers in FinTech

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Conversational AI tools or chatbots have come a long way from error-prone level-1 support to becoming a widely used tool in banks' automation and AI strategies. Today, chatbots in banking are being used by Wells Fargo, Capital One Bank of America, HDFC Bank, HSBC, CBA, and many other leading global banks. The contribution of these chatbots is noteworthy. Consider this: Bank of America's chatbot Erica has served over 35 million customers, and HDFC's EVA engages in over 20,000 conversations every day. The overall impact and growing importance of intelligent chatbots can be understood if we look at the report from Gartner, which suggests that by 2020, customers will prefer to resolve 85% of their problems with an enterprise without interacting with support staff.


5 Banking Tech Trends for 2017 - Chris Skinner's blog

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Without a doubt, 2016 was the year'disruption' became tangible. Events like Brexit, the U.S. election and India's demonetization exercise brought home the reality we are living in a fast-changing global society where a sense of anti-establishment and rebellion is accelerating change. This shows no sign of stopping in 2017, with new technologies allowing banks to offer service levels more synonymous with hospitality than financial services, and with established technologies like artificial intelligence and robotic process automation seeing a resurgence in combination with new voice commerce models, IoT data, and robo advisors to offer more personal, more contextual and ultimately unique banking experiences for each and every one of us. In meeting with decision-making executives from the U.S to Europe, the Middle East, India and Singapore, I have compiled a clear list of trends that are dominating technology investment discussions across the globe's leading banks. In 2016 we already saw several leaders' like DBS, Santander, Wells Fargo and Bank of America roll out their chatbots, but 2017 is the year when the rebirth of this very old technology will come into its own.


Artificial Intelligence in Finance: AI is the New Electricity

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This article was written by Harry Chiang, a Financial Analyst at I Know First. "The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalized, but what we've seen coming through here is the view that technology will actually help banking become a lot more personalized." Over the past few years, news articles have casually floated the term'Artificial Intelligence' around at an increasing rate. It's one of those buzzwords that somehow finds its way in to every tech-related conversation. Even the least tech-savvy person has a vague notion of what it is. The problem is, some of the more tech-savvy person don't have a much clearer notion of what it is either. The definition of AI ranges and has vague boundaries.