Intelligent Chat Bot for the Banking Sector

Abstract

Customer Service is the most important part of the growing business. It is nothing but have the one-on-one communication between the consumer and the organization while introducing their products. Most of the businesses believe making connections with customers at their best level will guide the customers to bind with the same organization. Since most of the customers are not aware about how to proceed with the self-engagement, more manpower and the customer relationship management has become a must. Due to that reason a little mistake can hamper the organization name if the customer service went wrong. Since this is the digital era, communication platforms with novel concepts of machine learning and artificial intelligence are rapidly growing. With advanced digital technologies related to machine learning and artificial intelligence, managing customer service has become easy, reliable and cost effective rather than applying human resources. As a solution an AI assistant can be proposed: which can be used to avoid the disadvantages caused by human engagement as customer care employees. The AI assistant is nothing but a chatbot which helps the customers to inquire about the issues they are facing without having human interaction. Within the whole scenario the organization is considered as a bank. The importance of having an AI assistant is because organizations need to deliver more convenient communication mechanism that support 24-hour customer service, consistent answering, diminish the customer waiting time and instant communication. To achieve those goals organization able to develop their own Artificial Intelligence based assistant to cater their customers. AI assistant will enhance the productivity of bank staff, save overall costs, and maximize the customer engagement. The banking AI assistant is responsible for responding to the customer’s needs. To fulfill this requirement, first of all the customers should send their queries to the AI assistant. Once it is done, the AI assistant will identify the user’s requirement and respond accordingly for the trained queries. Moreover, it will identify the misspelled user queries and respond to them within an approximate level. Other than that, AI assistant has the capability of providing answers which has lower possibility of being accurate with the graceful fallbacks according to the user queries. Even for the out of scope queries it responds intuitively.