As banks and other financial firms ramp up their investments in artificial intelligence (AI), it can be easy to lose track of the most important component – user satisfaction. In a presentation tomorrow, GfK will share results from a new study on consumers’ views of banking “chatbots” and other AI applications.

The session will take place at the third annual Innovations in Investing, Saving & Advice (In|Vest) conference, taking place in New York City. The event brings together technology and strategy executives from across the wealth management community, exploring changes in the market and offering a digital vision of the future.

At 2:15PM, GfK’s Keith Bossey (SVP, Financial Services) and Mike Murphy
(Senior Design Director, User Experience) will offer “Making AI Work for Financial Services,” delivering insights financial services firms need to take their AI efforts to the next level. Drawing on the recent GfK study, they will answer such questions as

•        When do consumers feel they need human help with a financial issue?
•        When do people see chatbots as a convenient alternative?
•        How can FS firms create AI approaches that work for consumers?
•        How can FS firms satisfy their key customers?

GfK will also offer examples of successful AI and digital tools that were built to meet consumer needs.

“Digital and AI are game changers for FS because they enable personalization that humans cannot provide on a cost-effective basis,” said Bossey. “Our data show massive gaps between the benefits consumers want from banks and what they actually get; in many cases, it is only the perceived difficulty of switching banks that is keeping customers in place. The firms that will succeed with AI will find ways to deliver the benefits of human interaction in digital form – a challenge that demands really deep understanding of consumers’ experiences and attitudes.”

  Click here to request more information on GfK’s presentation at In|Vest.

About GfK

GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience. This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers’ experiences and choices.

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