Both Gary Higham, CTO, and Kieran Molloy, machine learning engineer, at car finance marketplace, Zuto recognise the opportunity of AI; but also the importance of customer service. Here, the two discuss what they have learnt about utilising AI so far, and the barriers they see slowing down adoption.
The awe inspired by the launch of ChatGPT in November 2022 was accompanied by fear – surrounding its power and its potential to eradicate the need for humans. AI’s rapid development has since wowed even its early adopters.
And, while it is becoming more widely adopted for its operational and analytics capabilities, even the most tech-savvy firms – like fintechs – are still figuring out how best to use it.
Companies are currently trialling different AI models to get the right balance of speed, functionality and cost, and to ensure that processes such as communicating with customers and gathering data are secure and adhere to regulations. Here’s what we have learned about where it can best be used and what the barriers to adoption are.
AI as co-pilot
One of AI’s greatest strengths is its ability to enhance customer interactions, not to replace the human element. In a survey of more than 2,000 Zuto customers, 82 per cent said that good customer service was most important to them …