12th September 2017

AI will be harnessed to improve customer service, says Synechron

Following the announcement from Deutsche Bank’s chief executive, John Crynan, that job losses at the bank are to be expected as the bank looks to embrace new technology by replacing current manual processes with Artificial Intelligence (AI) and automated technology, Ben Musgrave, Principal Consultant, Data & Analytics at Synechron, said:

“As companies like Deutsche Bank embrace AI techniques in robotics, the global banking industry's operations and workforce will undoubtedly be impacted. In such cases, these firms have a responsibility as part of the automation process to think about how they can reskill or gain new value from the employees who were performing these automated tasks, including controls and governance of these systems and focusing on data analysis or other roles that require human insight.

“However, it is important to acknowledge when discussing AI that robotics/automation is just one discipline. There are other areas of AI that are not merely focused on automating processes and gaining efficiency that could equate to personnel redundancies. These techniques include data science and cognitive learning that have the potential to help solve complex business processes that will require experts to model the algorithms and analyse the outputs from the models. This can bring tremendous value to businesses who should think more broadly about AI and its potential beyond automation and how it could impact jobs.

“AI has the power to vastly expand the offerings available to customers and expand the number of customers. Our belief at Synechron is that AI will be harnessed to improve customer service and increase customer volumes. This effect will mean that similar levels of jobs will be created to those that are lost. Furthermore as the repetitive unskilled jobs are automated it will be higher skilled, higher salaried, more interesting jobs that are created. This should have a net beneficial effect for customers, workers and shareholders alike.”