Join executive leaders at the Conversational AI & Intelligent AI Assistants Summit, presented by Five9. Capital One has a 99% success rate when it comes to understanding customer responses to an SMS fraud alert, Ken Dodelin, vice president of mobile, web, conversational AI and messaging products at Capital One, said in a discussion about how the bank harnesses the power of personalization and automation at VentureBeat's Transform 2021 virtual conference today. When Capital One notices an anomaly in a customer's transactions, it reaches out to the customer over SMS and asks the customer to verify the transaction details. If the customer doesn't recognize the transaction, then it is clear it was fraudulent and Capital One marks it accordingly. By adding a third-party natural language processing/understanding solution, the AI assistant Eno is able to understand written responses from the customers, such as "that was me shopping in Philadelphia," which is not easy for machines to understand, Dodelin said in a conversation with VentureBeat senior reporter Sage Lazzaro.