Chinese banks to tap AI for more ‘human’ customer experience, survey says

Artificial intelligence (AI) is expected to deliver sweeping improvements in the way banks across China serve their customers by the end of this decade, according to new research from Accenture.

That would include creating an environment for customers that is more “human”, beyond what current online avatars and messaging bots do.

“China’s consumers are ready for AI,” Albert Chan, a managing director at Accenture and head of its financial services practice in China, said on Wednesday.

The global professional services company’s latest Banking Technology Vision report, which surveyed more than 600 bankers in 31 countries, found 90 per cent of bankers in China said AI will revolutionise the way these financial institutions gather information and interact with customers.

In addition, 83 per cent believed that AI will “help banks create a more human-like customer experience” and another 83 per cent said banks will deploy AI as their primary method for interacting with customers within three years.

While AI has long been used by banks to make heavily manual processes more efficient, the Accenture survey highlights the next stage of AI adoption to help banks understand the intentions and emotions of customers, and enable better interactions.