The future of banking UI is AI

Within the next few years, artificial intelligence tools will be the primary way in which banks interact with customers, according to a new report by Accenture.

by Helen Leggatt

In a survey of 589 banking executives from 31 countries across Europe, North America, Asia-Pacific, Africa and South America, more than three-quarters (76%) said they believe that ""the majority of organisations in the banking industry will deploy AI interfaces as their primary point for interacting with customers" in the next three years".

The main reasons for embedding AI into user interfaces were "to gain data analysis and insights" (60%), "increase productivity" (59%) and "cost benefit savings" (54%).

In fact, almost as many (71%) believe that AI is ""capable of becoming the face of their organisation or brand" while 78% believe AI will ease the simplicity and use of their user interface to provide a more "humanlike experience".

However, more than a third of respondents said that, in order to reap the benefits of AI, issues of privacy, data quality and integration would first need to be addressed.

According to Accenture, "Banks could pair artificial intelligence (AI) with people to fundamentally change not only the way bank employees work, but also the type of work they do - enhancing workforce efficiency, flexibility, compliance and skills that engage the customer".