The role of artificial intelligence and video in banking services
The role of artificial intelligence and video in banking services

Video telephony is one of the most important innovations and has changed the lives of many users. This technology appeared and spread, and with the development of artificial intelligence, video calls became more and more useful.

When Skype was introduced in 2003 and video calling was available, people believed that technology would change the world and have a huge impact on everyone, but it didn't.

However, the COVID-19 pandemic has left millions of users around the world primarily dependent on video calls. It has proven useful in distance learning and even in business meetings. However, by integrating these services with modern artificial intelligence, they can play a larger role.

With the maximum possible access to video telephony services on the one hand and the availability of artificial intelligence capabilities on the other hand, the term “video banking” appears, which means services. Bank accounts that can be closed remotely. . video call.

The term is used for all banking services that can be performed via video. This is due to the presence of bank employees, as well as the presence of machine learning and artificial intelligence technologies.

Artificial intelligence and video in the banking sector

AI models can train over time. It depends on the customer's interaction with it, especially in the banking industry. It is complementary to general machine learning techniques.

In addition, natural language processing (NLP) techniques enable these technologies to understand and communicate with people effectively. On the other hand, chatbots have been able to create a professional connection with customers based on the existing customer information of the bank.

A successful model appeared at ABN AMRO in the Netherlands. It relies on machine learning technology, artificial intelligence and human resources to provide a complete customer experience. Bank video calls are different from traditional calls. Because it depends on the user's connection to the corresponding bank employee as per his profile.

The machine learning function allows all data to be processed and analyzed in real time in a matter of seconds. For example, if a customer asks questions, an AI model can provide him with all the information he needs very quickly.

It is undoubtedly too late for the banking industry to build on these concepts. Indeed, managers and decision-makers have ruled out the possibility of relying on advanced technical services where there is no urgent need, but this situation has changed a lot since the pandemic.

Recent research has shown that users rely heavily on technology when dealing with banks. While the proportion of Americans using digital banking services increased by 85%, 40% of them said they will continue to use these services even after the pandemic is over.

Many experts believe that the future of banking depends on advanced technology and automated processes. According to reports, banks around the world have closed 3,324 branches around the world due to customers' reliance on online banking.

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