An Industry Conference on AI Technology
Telfer School of Management, University of Ottawa
January 30, 2020
The Saga New Frontier Group (NFG), is a forward thinking and innovative European company specializing in artificial intelligence-based solutions for those companies wishing to build stronger relationships with their customers.
Saga NFG has a particular interest in and a record of achievement in the banking and financial services industry. They believe that to survive and thrive, traditional banks or credit unions will need to effectively integrate all of Saga’s services, to become complete 360-degree financial partners with their clients.
In partnership with Canadian consulting firm Samuel Associates, and the encouragement of the Telfer School of Management and the Canadian Credit Union Association, Saga NFG sponsored a conference on “The Future of Banking, Technology and Credit Unions”. Representatives from government, credit unions, academia, the financial services industry, fintech, the Canadian Cyber Security Threat Exchange and regulators were all in attendance. The first half of the conference focused on defining artificial intelligence and outlining the future of the technology as it relates to the financial sector, and the private sector as a whole.
One of our most significant achievements has been our partnership with the Austrian based Raiffeisen Bank to implement the Weaver AI chatbot solution. This partnership clearly confirmed the Weaver chatbot as a functional and engaging channel of communication that allowed the bank to provide its customers with faster and easier access to information about products and services. The interactive chatbot conversations offered by Weaver were reported to be akin to human conversations by a majority of users, so much so that the chatbot channel received seven times as many questions as any other communication channel. The ability to provide near instant responses, 24/7, to a myriad of queries, has helped the bank achieve long term, quality relationships with its customers.
A varied panel of speakers had the pleasure of hosting a presentation on the enablers of artificial intelligence such as machine learning, deep learning, natural language processing, and the competitive advantage of merging artificial intelligence software with robotics. The audience also heard a special presentation from the guest speaker, Mr. Stewart Cawthray from IBM Security and Financial Services, on how Canadian credit unions can prepare themselves to adopt proven AI solutions to maintain their competitive industry position.
Financial institutions will need to predict customer’s needs, offer personalized financial products and services, mitigate risks, and function effectively within a highly regulated industry.