Advances in predictive analytics and Natural Language Processing have allowed Financial Institutions (FIs) to automate significant portions of the client’s interaction lifecycle in contact center environments, enabling improvements in average handle times and the overall client experience. A number of AI-based technologies are involved in this process; this report provides an overview of major Contact Center AI (CCAI) technologies and how they contribute toward the client experience, through self-service migration, real time monitoring, and by providing operational support for the contact center workforce.

Wealth management firms are contemplating the dilemma of automating the contact center environment over potential compromises in service quality. This report takes a look at this unique challenge, where clients of higher levels of wealth may not be as comfortable with Virtual Agents as mass market. This report also discusses whether these AI-based technologies are ripe for deployment toward a more sophisticated and demanding client base.