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New Paper Released: The Impact of AI on CX in FIs

On April 18th, 2023, Phase 5 published its latest paper entitled, "The Impact of AI on Customer Experience in Financial Institutions in North America". Written by Phase 5 Partner & Chief Innovation Officer Arnie Guha, the paper explores how AI will influence the customer experience at financial institutions, as well as the ethical considerations that must be addressed to ensure that AI is used in a responsible and equitable manner.

The rapid development of AI technology has significantly impacted various industries, including financial services. In the financial sector, AI has the potential to revolutionize
customer experience by providing personalized, efficient, and cost-effective services. The adoption of AI technology can also help financial institutions remain competitive and enhance their customer base.

Through our work at Phase 5, we have seen several success stories as well as untapped opportunities. This paper provides in-market examples of the applications, and outlines key questions that banks should consider prior to enhancing their AI capabilities. Download it today to learn more.

About the Paper's Author:

Arnie Guha, Ph.D. is Phase 5's Chief Innovation Officer and Head of Experience Design. He believes that all perception relies on narrative, and that our understanding of the world is dependent on our ability to pick out the threads of a story and to reweave them in interesting and relevant ways. He is also a talented artist.

Once a Nehru Centenary Scholar at Cambridge University, Arnie has worked with a multitude of organizations across many different industries, using data from qualitative and quantitative studies to create customer-centric experiences that not only improve the course of business (or government), but also strengthen customer relationships in the process.

Written by Stephan Sigaud

Stephan Sigaud, MBA, is Phase 5’s Chief Marketing Officer. Stephan is passionate about partnering with clients to address their challenges and opportunities around customer centricity. He has more than 25 years’ experience in Market Research and Customer Loyalty and Experience. A past Board Director of the Insights Association, he has also been volunteering with the Customer Experience Professionals Association (as past Chair of the CXPA Toronto Network) and the Canadian Marketing Association (as member of the Leaders Network and past co-Chair of the CMA CX Council).