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AI crucial to humanizing branch experience, report says

March 30, 2017

In traditional banks, basic transactions continue to migrate from physical to digital channels, leading to major changes as banks redesign their branch networks and enhance their digital footprint.

A new report, Accenture Banking Technology Vision 2017, reveals that 80 percent of bankers believe that artificial intelligence will play a significant role in accelerating the adoption of digital technology at the branch, providing employees with the tools and resources to better serve consumers.

The theme of the report, "Technology for People," is a call to action for bank executives to design technology to help align their products and services with what consumers want in near real time, according to a press release.

Also among the report's findings:

• more than three-quarters (78 percent) of bankers believe that AI will enable simpler user interfaces that will help banks create a more human-like customer experience;
• more than three-quarters (79 percent) believe that believe that AI will revolutionize the way banks gather information and interact with customers; and
• more than three-quarters (76 percent) believe that within three years, banks will deploy AI as their primary method for interacting with customers.

"AI-enabled tools can help banks identify consumer preferences and empower their workforces to react with insight and emotional intelligence, which is essential for the development of meaningful consumer relationships," said Alan McIntyre, a senior managing director at Accenture and head of the company's banking practice. "The challenge will be how quickly banks can implement these new technologies, many of which are not compatible with their existing IT infrastructure."

Accenture Banking Technology Vision 2017 draws on the analysis of an advisory board of more than two dozen individuals, interviews with technology luminaries and industry experts, and results of a survey of more than 600 bankers. A full copy is available at www.accenture.com/us-en/insight-banking-technology-vision-2017​.