// . //  Insights //  AI Is Boosting Customer Satisfaction In Financial Services

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I believe that Artificial Intelligence is one the key technologies that will disrupt financial services going forward
Dominik Weh, Partner, Co-Head of the Government and Public Institutions Practice Europe, Oliver Wyman

Customers expect technology to simplify banking. Generative artificial intelligence, solving problems beyond human reach, is evolving from cybercrime innovation to mainstream processes, revolutionizing the financial industry.

Watch more from the New Monetary Order Video Series and discover how financial institutions are adapting to the evolving monetary landscape.

Eric Caen

Technology is very important for banking, it has always been, but now we are living in a world where everybody is using their smartphone over a hundred times a day.

If we don't provide the right user experience using the best of what technology is already in the pocket or in the "accessible" by our customers, then we underdeliver. They all expect great technology being used to simplify how they consume banking services.

Lisa Quest

The technologies that has the opportunity to have the greatest change on the industry is really Generative AI. I think when people talk about AI they forget that we've actually been using narrow AI or traditional AI for over a decade, right?

But what Generative AI does is has the opportunity to really provide a structural shift in the industry once it moves from the innovation labs into what we would call BAU processes, and it will start replacing some of the standard functions that we have in compliance, It will start replacing some of the standard regulatory oversight opportunities.

Spencer Kelly

I do believe that banks are really good at spotting fraud and cyber crime. I'm very happy for them to know me better than I know myself so they can spot an unusual transaction. My guess is that artificial intelligence will make that even better and they'll be able to spot transactions that shouldn't be happening.

Dominik Weh

Technological disruption and technological development is obviously amplified since we've seen the appearance of ChatGPT and other Generative AI tools.

Personally, I believe that artificial intelligence, despite having been around for a good two decades in different forms, is one of the key technologies that will disrupt financial services going forward.

Eric

AI is a very important aspect of our technology, current technology already. We are using AI to solve problems that humans are not great at. We are starting using Generative AI to find how it could benefit our bankers, and how it could benefit our bankers, and deliver them more time to be face-to-face to the humans.