Bank of America anticipated the need for digital assistants early, launching Erica in 2018 after analyzing customer behavior in 2017. The development required collaboration across departments and hiring specialized talent. By 2024, clients had engaged with Erica 676 million times, reflecting its success in addressing consumer needs. Hari Gopalkrishnan discusses Erica's expansion beyond consumer banking, showcasing the advantages of integrating generative AI and the importance of evolving customer service to maintain relevance in a competitive industry.
We were putting tons and tons of features into our app, a five inch screen, and our customers were still walking into the branch, calling into the call center ... It's hunting and pecking, and it was hard to navigate once you put more than 10 or 15 key features.
The answer was an in-house build of a digital assistant that required the firm to hire PhDs in linguistics and build a collaboration structure that could facilitate teams from different departments.
Collection
[
|
...
]