AI in Action

This chapter provides real-life examples of how AI is being used today by businesses in three different areas; enhancing customer service, optimising processes and generating insights. The first of these provides examples of chatbots, customer self–service and the ability to generate a single view of the customer. The second aspect includes the use of search capabilities to transform unstructured data into a usable structured format, automating judgement-based processes, and using speech and image recognition to streamline assessment processes. The final area includes examples such as credit decisioning, vetting, Know–Your–Customer and recruitment, as well as how AI can anticipate customers’ needs and behaviours to enable cross–selling and up–selling, and anticipating and detecting fraudulent activity.