Why more service providers are deploying AI in customer engagement

The deployment of AI and ML tools presents a growing opportunity to improve customer engagement and boost revenues for financial services providers. [iStockphoto]

Financial service providers are increasingly turning to artificial intelligence (AI) and machine learning (ML) technologies to enhance customer engagement, in what could alter traditional dynamics of how companies interact with their customers.

Analysis of annual reports from leading financial service providers and telecommunication firms in Kenya indicates broad adoption of AI and ML technologies in various tasks including, customer segmentation, scoring and analysis of customer feedback.