NOVEMBER - 20199Augmenting Human IntelligenceWe believe that technology will augment human intelligence rather than replace it. That's why internally Handelsbanken calls AI "Augmented Intelligence", rather than "Artificial Intelligence". One field e.g. where Handelsbanken uses AI is in investment advice. We have had an increase in investment advice meetings of more than 40 per cent, which means we also need to review 40 percent more documents than before. To handle this positive business increase, we have developed and implemented an AI tool based on IBM Watson technology for more efficient handling of compliance. We combine the capability of AI to assess and analyze text with NLP (natural language processing) and the human capability to understand context and complexity to create the most efficient output.We are developing the tool continuously and to do so we are using the feedback of our advisors to improve the application so the tool analyses and creates insights for our colleagues.This AI application is just the first of many for Handelsbanken. Based on the experience and technology that we have built, we are now running more trials in other areas. You can create a lot of value with AI, but it is not the solution to everything. You have to filter out what is really creating value for your customers or employees, not just push out a technology because it is cool. The combination of personal relationships and digital tools is the key to success. Keeping customers' trust in all interactions, both personal and digital, creates most value for our customers. . The potential to differentiate as a bank is to focus on security and the integrity of it's customer data.Futhermore, as the world getting more and more complex, our customers need a trusted advisor to help them navigate through their financial life. It is differentiates onefrom other banks who are only betting only on digital channels and push their customers away from personal meetings to automated interactions. All the work with digitalisation and technology boils down to one thing--betting on customer relationships. BC
< Page 8 | Page 10 >