NatWest bank has closed/is closing hundreds of branches in the UK.
This is bad news for customers (especially seniors) who like to do their banking in person.
NatWest has a solution. It’s dreadful.
According to The Telegraph:
NatWest is to launch an artificial intelligence (AI) chatbot that it claims will provide more human interaction to customers after closing hundreds of bank branches in recent years.
The bot, built using technology from IBM, will employ so-called “generative” AI technology, similar to that of ChatGPT, which can hold human-like conversations with customers looking for information about the bank.
The revamped chatbot will be known as Cora+, building on a current digital assistant that NatWest offers on its websites.
The company’s Cora+ bot will be able to explain details about products and services to customers in a conversational style, offering up links to useful information or services.
The expansion of its chatbot tool comes amid fears that AI bots will replace millions of office jobs. NatWest said it would still always be possible to speak to a customer services representative on the phone.
NatWest Group, which includes Royal Bank of Scotland and Ulster Bank, has shut down 1,314 branches since 2015, according to consumer group Which?. In September it confirmed it would close 143 locations across 2023 and 2024.