Tech Explained: Here’s a simplified explanation of the latest technology update around Tech Explained: Building the foundations of an AI banking revolution in Simple Termsand what it means for users..
By deploying AI agents within credit-risk workflows, banks could see their productivity rise by 60% while cutting credit approval cycles by 30% at the same time. AI agents could get involved in myriad processes, such as pre-loan credit assessments and risk analysis, and provide opinions for review by human officers. AI agents can also automatically track the execution of loan disbursements or proactively conduct risk alerts.
Within the world of banking, AI agents are making a splash by enabling banks to deliver hyper-personalised experiences by leveraging real-time data, intent prediction and tailored services.
“Right now, banks generally devote the majority of their resources to a small number of customers,” says Jason Cao, chief executive officer of Huawei Digital Finance. “However, with AI, banks are able to focus on a wider segment of customers, making long-tail customers also feel like VIPs.”