Leveraging conversational AI to better enable the customer journey: A practical guide to deploying chatbots at financial institutions

Benjamin Maxim
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Benjamin Maxim: MSU Federal Credit Union, USA

Journal of Digital Banking, 2022, vol. 7, issue 1, 28-36

Abstract: The global conversational artificial intelligence (AI) market size is projected to grow from US$6.8bn in 2021 to US$18.4bn by 2026, at a compound annual growth rate (CAGR) of 21.8 per cent during the forecast period. The major factors driving the growth of the conversational AI market are the increasing demand for AI-powered customer support services, omnichannel deployment and reduced chatbot development costs. This paper explores the practical application of leveraging the conversational AI market to advance customer service initiatives and enhance the customer journey.

Keywords: conversational AI; artificial intelligence; virtual assistants; chatbots; customer experience; digital experience (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2022
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