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Unblu Impact Day 2024: The relationship between AI and HI grows stronger

5 MIN READ

Unblu’s annual Impact Day gathers together top players from the wealth management, and retail banking sectors to share insights and network. 

This year, Impact Day was an action-packed experience, featuring insightful talks and panel discussions from guest speakers and Unblu members. The relationship between human intelligence and artificial intelligence was a recurring theme throughout the day. 

We can discover the developments in this area by looking at two presentations in detail.

Human Digital Collaboration as a Strategy

Maurice Lisi, Head of Digital Business at BPER, took to the stage to share his insights on “Human Collaboration as a Strategy.” 

Hybrid approach based on hard-earned lessons 

Maurice began by presenting how offering a hybrid banking model, that combines digital services and human support, is essential to achieve profitability. He elaborated on the failures of digital-online banks like Simple Bank and Marcus. While these institutions have fantastic customer experiences, they struggled to generate sustainable profits due to a lack of complex, revenue-generating services.

What lessons did BPER learn from this? According to Maurice, the key is in embracing a hybrid approach. He mentions that hybrid models are crucial to offer complex financial products like life insurance, pension funds, and wealth management, which yield higher margins.

This is because the customer has different, specific financial needs over time. Whether mortgages, insurance, or more, the personalized advice that they require can’t be fully addressed by digital-only solutions.

This is further complicated by the decline of physical branches, which impedes customer access to authentic human support when making complex financial decisions.

Hybrid excellence: Enhancing advisor performance with AI

Having reached the conclusion that a hybrid model is essential to meet customer needs, Maurice focuses in more detail on the strategic approach to realize it. He argues that, to achieve profitability, AI must be used in conjunction with human support. 

To exemplify this, he focuses on four specific use cases, which were made possible in part thanks to Unblu’s AI-driven Co-Pilot capabilities. 

1. Efficiency in customer interactions: Maurice presented how AI is leveraged to reduce the average conversation time, allowing advisors to handle more clients while providing a high-quality service.

2. Tailored product recommendations: AI suggests products like credit protection insurance or enhanced savings plans, significantly increasing cross-selling opportunities. When the opportunity is delivered by a human, the customer is more likely to be receptive. BPER found that the conversion rate rose from 10% when the process was carried out entirely online to 75% when advisors stepped in.

3. Generative AI for real-time support: Advisors receive AI-generated suggestions for customer inquiries, ensuring accurate responses and reducing errors (e.g., preventing incorrect product advice).

4. Hyper-personalization: AI helps tailor financial advice and product offerings based on individual customer data, increasing the likelihood of higher-value transactions.

The Advisors of the Future (or Present…)

Tools like ChatGPT alone aren’t enough. They don’t know your customers, the conversation history, product portfolio, or other relevant information. Without this context, it’s hard to make the bank employee more efficient. But beyond this, the potential of AI goes much further as the value emerges when we connect the dots between non-AI and AI elements. 

With so many of the discussions focused on the pressing need to embrace AI, the question arises – what is Unblu doing? In his presentation, David Eberlein, VP of Core Development at Unblu, gave us an exclusive insight into recent developments.

How does Unblu assist advisors?

We have designed and implemented the Generative AI Co-Pilot in the context of the interactions between clients and advisors.

David shows in his presentation how AI in Unblu is not a single product. Instead, it is implemented across the board to improve the productivity of both bank employees and customers. Here’s a breakdown of how it can be used. 

1. To determine the client’s mood. Based on previous interactions and client feedback, the client had a score to help the advisor approach the conversation with the right tone.
2. Bridged the language gap. If the advisor and client don’t speak the same language, the captions can be set to real-time translation, allowing each to continue speaking in their respective languages.
3. Created meeting notes. After the call, comprehensive meeting notes are automatically created. These notes can be edited before sending to the customer or archived in the CRM.
4. Summarized the conversation. Long meeting? Get a short, accurate summary of what was discussed. This can help provide context the next time the advisor interacts with the client.
5. Detected unresolved tasks. During the meeting, the AI can pick up on items to be completed later and automatically turn it into an unresolved task.

Best of all, as with all Unblu features, everything can be entirely configured according to your context and needs. 

Want more information about Unblu Impact Day?

If you’d like to find out more about Unblu Impact Day, please feel free to contact our sales team at sales@unblu.com.

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