Artificial Intelligence

A Medley yet Converged Force

Artificial Intelligence has always inspired awe as it is one of the toughest experiment to reverse engineer what nature has made. It was so tough that for many decades, it remained only in the realm of science fiction, and the entire gestation period was described as AI winter. At last, the winter is over and the spring is here. AI is now prevalent in our midst, developed and deployed to push forward the frontiers of progress. Our cover story showcases the various applications, but more than that, it delves into a variety of key aspects such as technologies, speed, build vs buy, customer experience, risk management, fraud control and team structures.

Part 1

AI boosts CX using Voice, Video & Language

Question: What type of CX improvement has seen the biggest impact from AI? What played the main role in creating the impact of AI - data quantity or data quality or algorithm or innovation or something else?

Anand Bhatia endorses AI for enhancing customer interaction by layering with context & sentiment analysis leading to real-time personalization

Anand Bhatia is CMO & Head Analytics at Fino Payments Bank

The ability to understand the nature of the consumer’s conversation (is it a query, complaint, compliment, etc) is one of the biggest impacts of AI. This aids consumers who are not articulate and prone to making writing errors when sharing. This also saves time and energy in reverting to the customer and most importantly, increases accuracy. Data quality and quantity, both play a key role. But the most important role is played by feedback loops, which help algorithms learn.

Anjana Rao is Chief Strategy Officer at IndiaFirst Life Insurance