'Disrespectful and tricky?' Commonwealth Bank's major service plan draws speculation from customers
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We rely on banks to keep our hard-earned money safe, especially during times of need.
Yet, with the rapid advancement of technology, banking services have adapted to digital ways of how they take care of their clients.
In a move that could change the banking experience for millions, a central Aussie bank's ambitious initiative raised concerns about the quality of customer service people receive.
The Commonwealth Bank (CBA) announced a major plan to integrate artificial intelligence (AI) into its customer service operations.
The bank started trials for Hey CommBank, an AI-driven platform designed to assist customers with their inquiries.
Commonwealth Bank staff, who are also customers, have been testing the AI-driven service.
Hey CommBank should be able to handle simple inquiries and provide conversational, ChatGPT-style answers to more complex banking questions customers may have.
The bank is the first to use an 'AI factory' developed in collaboration with Amazon Web Services (AWS).
CBA's chief data and analytics officer, Dr Andrew McMullan, stated that customers would be 'so familiar with using ChatGPT-style services that it becomes the way that they interact with the bank as well, through our digital channels'.
'We are trying to understand what engagement is like and how those agents interact with customers. We are making sure that we're very responsible,' Dr McMullan added.
However, the advancement raised eyebrows, as it could also change the workforce.
The Finance Sector Union criticised the bank's move, calling it 'disrespectful and tricky'.
'Once again, AI is being introduced into the workplace without any consultation with workers or customers,' the union's Assistant Secretary, Nicole McPherson, said.
She also stated that AI could have significant implications for employees and the quality of service.
Despite these concerns, CBA insisted that the AI tool should complement human staff.
Integrating Hey CommBank could free up employees and let them focus on more complex customer needs.
The bank also emphasised that they value their workforce and are committed to discussing any future changes that could impact them in the future.
To assure their customers, Dr McMullan highlighted CBA's consistent track record of investing in technology and its people.
They shared that a combination of AI tools and staff expertise should give better services to customers.
They also have 'safety guardrails' implemented to protect customers from fraud.
Apart from Hey CommBank, CBA also uses AI to monitor about 50,000 customer calls to its local call centres.
The AI could provide a transcript of a customer call in record time and assess if the caller had a satisfactory experience.
This development could promise faster and more efficient banking services, especially for tech-savvy customers.
On the other hand, there are genuine concerns about the impersonal nature of AI and how it could affect customers who are not as tech-savvy.
As the bank forges ahead with its AI-driven initiatives, many speculate about the future of the bank's services.
How do you feel about Commonwealth Bank's introduction of AI in customer service? Do you think these AI services will affect the way you transact at your local bank? Please share your insights and opinions with us in the comments below.
Yet, with the rapid advancement of technology, banking services have adapted to digital ways of how they take care of their clients.
In a move that could change the banking experience for millions, a central Aussie bank's ambitious initiative raised concerns about the quality of customer service people receive.
The Commonwealth Bank (CBA) announced a major plan to integrate artificial intelligence (AI) into its customer service operations.
The bank started trials for Hey CommBank, an AI-driven platform designed to assist customers with their inquiries.
Commonwealth Bank staff, who are also customers, have been testing the AI-driven service.
Commonwealth Bank's latest plans aim to include AI services for customer support. Image Credit: Shutterstock/Casimiro PT
Hey CommBank should be able to handle simple inquiries and provide conversational, ChatGPT-style answers to more complex banking questions customers may have.
The bank is the first to use an 'AI factory' developed in collaboration with Amazon Web Services (AWS).
CBA's chief data and analytics officer, Dr Andrew McMullan, stated that customers would be 'so familiar with using ChatGPT-style services that it becomes the way that they interact with the bank as well, through our digital channels'.
'We are trying to understand what engagement is like and how those agents interact with customers. We are making sure that we're very responsible,' Dr McMullan added.
However, the advancement raised eyebrows, as it could also change the workforce.
The Finance Sector Union criticised the bank's move, calling it 'disrespectful and tricky'.
'Once again, AI is being introduced into the workplace without any consultation with workers or customers,' the union's Assistant Secretary, Nicole McPherson, said.
She also stated that AI could have significant implications for employees and the quality of service.
Despite these concerns, CBA insisted that the AI tool should complement human staff.
Integrating Hey CommBank could free up employees and let them focus on more complex customer needs.
The bank also emphasised that they value their workforce and are committed to discussing any future changes that could impact them in the future.
To assure their customers, Dr McMullan highlighted CBA's consistent track record of investing in technology and its people.
They shared that a combination of AI tools and staff expertise should give better services to customers.
They also have 'safety guardrails' implemented to protect customers from fraud.
Apart from Hey CommBank, CBA also uses AI to monitor about 50,000 customer calls to its local call centres.
The AI could provide a transcript of a customer call in record time and assess if the caller had a satisfactory experience.
This development could promise faster and more efficient banking services, especially for tech-savvy customers.
On the other hand, there are genuine concerns about the impersonal nature of AI and how it could affect customers who are not as tech-savvy.
As the bank forges ahead with its AI-driven initiatives, many speculate about the future of the bank's services.
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I like any modern technology and gadgets.
Trouble is I never have any need to phone my bank about anything. I just check everything on mybank app.
