Oh, do me a favour!
Hampshire, UK - 23rd January 2024: A new study from Juniper Research, the foremost experts in payments markets, has found spend on GenAI by banks will reach $85 billion in 2030, from $6 billion globally in 2024. It predicts leading banks will adopt generative AI services to offer more personalised user experiences; enabling banks to provide increasingly compelling services at reduced cost.
Man, that's nonsense!
I'm sorry, Juniper Research, you foremost guys - and I take my hat off to you for that - but we want humans we can interact with.
'Or dolphins, boss!'
Er ... no, Voice. The dolphins are just for me.
'Oh.'
Yeah, we're talking about what your average square wants from banking.
'Okay.'
They don't want this robot nonsense!
'Of course not.'
Anyway ...
Generative AI platforms learn patterns and structure from training data, and can create text, images and other media. Common use cases include ingesting text and data, and summarising them, or generating content for communicating with customers within LLMs (Large Language Models).
Sounds wonderful, don't it?
I think not.
Anyway ...
The research found generative AI will enable drastic change at banks by providing personalised spending insights and easier access to customer trends. Banks will increasingly shift to an AI-centric strategy, as these business models are essential to competing effectively in a highly dynamic banking environment.
Banks must understand investment now is vital to GenAI, as this can ensure that banks have enough time to build the highest-value use cases, such as GenAI's use within customer services and back-office roles. This investment will enable banks to gain a competitive advantage, as their costs reduce and user expectations around experience shift.
Christ! Customer service has always been terrible at all companies, and now it's getting worse.
In fact, they don't serve the customer. They never have done, ever. That's not the point of customer service.
'What is the point?'
Voice ... the point of customer service is to keep the customer as far away from the bosses of any particular company as is possible. You dig?
It's really boss service. That's what it is. Seriously.
Anyway, here's Nick -
Research co-author Nick Maynard explains: "Using AI at the heart of operations will enable banks to provide a differentiated and personalised user experience, while reducing costs. By not making AI a priority today, banks risk losing ground to competitors."
All right. Whatever, Nick.
ENDS
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...
Anything else?
I can't think of anything, kooks.
Can you think of anything, Voice?
'That's not my job.'
Thanks a lot.
Idiot.
'Proud of it, too.'
Shut up.
Uh.
Okay, okay.
Thought of the day: Has anything ever been promoted as hard as World War Three?
'Ha, ha, ha! And people still ain't buying it, Mikey.'
I know.
It's ridiculous.
Well ...
Laters.
'Bye!'
ENDS
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