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Felix Pinkston Feb 20, 2025 10:17 Barb Morgan of Temenos highlights the transformative role of AI and chatbots in banking, enhancing customer experience and data security, according to a recent NVIDIA AI Podcast discussion. Artificial Intelligence (AI) is rapidly reshaping the banking sector, offering innovative solutions for customer service and data management, according to Barb Morgan, Chief Product and Technology Officer at Temenos. In a recent discussion on the NVIDIA AI Podcast, Morgan explored the profound impact of AI-driven technologies, such as chatbots and AI agents, on enhancing customer experiences and ensuring robust data security. AI in Banking: More Than Just Fraud Detection Traditionally utilized for fraud detection and risk modeling, AI in banking is now evolving to offer more personalized and intuitive services. Recent advancements in generative AI enable banks to offer hyper-personalized services and real-time insights, significantly enhancing customer interactions. Morgan emphasized that AI can tailor financial products to meet individual customer needs, making interactions more meaningful and relevant. Chatbots: Revolutionizing Customer Service AI-powered chatbots and digital interfaces have become pivotal in the banking industry. These technologies provide 24/7 support, addressing customer queries in real time, thereby improving customer satisfaction and operational efficiency. The adoption of generative AI for customer service has seen a remarkable increase, with usage more than doubling from 25% to 60% over the past year, as detailed in NVIDIA’s fifth annual “State of AI in Financial Services” report. Data Management and Sustainability The effective implementation of AI in banking hinges on robust data management practices. AI helps banks process and analyze vast amounts of data, providing deeper insights and accurate predictions. Furthermore, AI contributes to sustainability efforts by enabling banks and their customers to track and reduce their carbon footprints, aligning with global environmental goals. For those interested in the latest advancements in technology,…

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Filed under: News - @ February 20, 2025 3:24 pm