While going to the bank used to be a strictly human-to-human interaction, as technology grows, the way we do commerce grows with it. In a world where we can transact thousands of dollars digitally from one bank to another from the comfort of your home. Automation after automation has left us incorporating AI into our banking systems where they can now help everyday users with simple problems, making transactions and issues pass by in a smoother and more efficient way.
This is where Amelia comes in. Amelia is a new AI banking system model that will soon be incorporated into our everyday banking. When dealing with minor issues like losing a password, you can simply go to your banking service’s app where you can ask Amelia for help and get results quickly without any human involvement. Solving a simple issue that would normally take half an hour or more because of high call volumes is made significantly efficient thanks to Amelia.
There is of course the issue of privacy. What will be done with the information we provide to these AI databases? Will someone be able to steal my personal details? Well according to Brandon from this year’s “AI at Work: Latest Innovations Unveiled” expo, the information input in the Amelia database does not leave the bank. Amelia works on a specific learning language where it has certain programs that only allow it to work for specific content. In other words, the programming language model that Amelia runs off of keeps it so that the information cannot be widespread. The information stays between the user and the bank.
It’s interesting to see just how far we may get when it comes to AI in our commerce. Just as there are developments in the small areas that AI’s such as Amelia can help with, in the future AI might be able to predict ups and downs of the stock market. Small progressions like these are the spark of larger change that can completely change the way we see money. It’s important to keep up with these changes so as to not get stuck in the past and fall behind, especially when it comes to things in the monetary sense.
Information retrieved from; van Loon, R. (2024, January 10). Ai at work: Latest innovations unveiled!. YouTube. https://www.youtube.com/watch?v=D-sTko-MYCo