As competition in financial services grows, success hinges on delivering exceptional customer service. The high cost of doing so has proved a barrier, driving many firms to turn to innovations that hold huge promise such as artificial intelligence (AI). However, there are major risks and the potential for costly mistakes. Conor Ogle and Rashed Haq look at what strategies need to be in place to ensure AI projects deliver and what firms can learn from recent implementations.
Recognizing that existing operational models cannot be sustained, organizations are exploring new ways to innovate, most notably through robotic process automation (RPA). But is RPA worth the hype? Is it the ultimate solution for enhancing control and reducing costs within operations? Or is it just another quick fix that won’t work over the long term?