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Capital One has a 99% success rate when it comes to understanding customer responses to an SMS fraud alert, according to Ken Dodelin, vice president of mobile, web, conversational AI and messaging products at the company. ‘business. Dodelin spoke today about how the bank harnesses the power of personalization and automation in a conversation with VentureBeat lead reporter Sage Lazzaro at VentureBeat’s Transform 2021 virtual conference.
When Capital One notices an anomaly in a client’s transactions, it contacts by SMS and asks the client to verify the details of the transaction. If the client does not recognize the transaction, Capital One may proceed to treat it as fraudulent.
By adding a third-party natural language processing / understanding solution, AI Assistant Eno is able to understand written responses from customers, such as “I was the one shopping in Philadelphia”, which is not easy. to understand for machines, said Dodelin.
Capital One first considered using AI for customer service in 2016, when the company was among the earliest recipients of Amazon Echo devices. At the time, Amazon was looking for partners across industries to see how they could create a conversational experience. Capital One said it had become the first bank to develop a skill – a special program that allowed customers to complete tasks on Amazon platforms. Over the next few years, Capital One began to integrate natural language understanding into its SMS alerts, as well as its website and mobile apps.
The current AI assistant has evolved a lot from the initial version, Dodelin said. First of all, the assistant is available to chat with customers in more places. Whether the customer is inquiring about the bank or about a car loan, he has the opportunity to ask questions about his account. Second, the company said it didn’t limit discussions to customer-initiated conversations. The company leverages its advanced data infrastructure to anticipate customer needs and proactively contact, whether through push notifications or email. The interaction would include important information and actions that customers would expect from a human assistant.
One challenge Capital One faced was figuring out what to do if the client wanted something that was not included in the options displayed on the screen. âNow we have to not only design experiences for the things that we expect of them, but constantly learn about all the other things that are happening and the different ways they are happening,â Dodelin said.
Context is important when applying AI technologies to customer service. In many cases, the scripts are relatively consistent, regardless of the identity of the customer or their particular situation. But when creating an experience, it’s important to remember that customers are contacted under very different circumstances. Lightness may not be appropriate during a time of emotional and financial stress, for example.
Capital One continued to improve the service in order to proactively anticipate when a customer might need assistance and respond in an appropriate tone, Dodelin said.
Another challenge is to anticipate the extent of the questions customers are asking. Customers who run into issues often lack a way to express their frustration beyond having a human assistant pick up the phone, he said. Knowing more about these experiences helps the AI ââassistant provide better answers and allows the company to adjust the options included in the user interface.
âAs we learn more, we have improved and expanded the audience that [the AI assistant] is available for, âDodelin said. Capital One didn’t make the service available to all customers, but started out with a small segment of its credit card business. Over time, the company opened up the service to more customers.
âIt’s a lot of work done by very talented people here at Capital One to try to be successful in all of these different circumstances,â Dodelin concluded.
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