Navigating Next-Gen Tech: How One Major Bank is Leveraging AI to Enhance Customer Service

A bank where you can get help with your finances just by chatting online. NatWest is doing just that. They are using artificial intelligence to make banking easier and more personal for their customers. The tech? Generative AI, or Gen AI, which can create things like text and images. This isn't just about being cool. The bank has to be careful. They handle lots of sensitive personal data. If they rush into new tech, they might cause problems. The bank's digital team, led by Wendy Redshaw, is exploring how Gen AI can help customers. They have a plan to spend lots of money on digital technology. They are looking at different ways to make customers' lives simpler. They started by creating a chatbot named Cora. It could answer basic questions. To be better, NatWest created a next-generation assistant called Cora+. Cora+ can handle more complex tasks and give personalized help. They made sure to test Cora+ carefully with customers. Some customers were hesitant to try the new tech, but most found it helpful. Cora+ can understand natural language. This made customer satisfaction go up. Cora+ is now part of NatWest's plan to make banking more personal. They are learning more about how to use AI every day. They are excited about the possibilities. However, there are challenges. Cora+ isn't perfect. They are working to make it more accurate. They want to use AI to help more customers without taking risks. They are learning valuable lessons. They found out that customers might not always understand new tech right away. But when they do, they like it. This success has given NatWest the confidence to explore even more ways to use AI. Gen AI is a powerful tool. Banks and other companies can use it to make better customer experiences. But they have to be smart about it. They need to think about how to keep customers safe and happy.