Banking chatbots and virtual assistants face higher consumer expectations due to ChatGPT buzz – eMarketer
New data sets, deeper insights, and flexible data visualizations.
In-depth analysis, benchmarks and shorter spotlights on digital trends.
Interactive projections with 10k+ metrics on market trends, & consumer behavior.
Proprietary data and over 3,000 third-party sources about the most important topics.
Industry benchmarks for the most important KPIs in digital marketing, advertising, retail and ecommerce.
Client-only email newsletters with analysis and takeaways from the daily news.
Exclusive time with the thought leaders who craft our research.
The trend: As financial services customers increasingly get used to interacting with virtual assistants and chatbots on banking apps, banks and card issuers are creating user experiences more like generative AI-powered search, per American Banker.
How we got here: An October 2023 Corporate Insight survey of 3,300 consumers who used apps from credit card issuers found that 24% had interacted with a virtual assistant in the past six months. That’s up from just 4% in October 2019.
And this number will only grow. Last year, 62% of financial services executives surveyed by KPMG said they plan to use generative AI for customer service and personalization.
The ChatGPT boost: Consumer interest has also heated up due to continual buzz about generative AI (genAI). Exposure to ChatGPT and Google Gemini is shaping customers’ expectations around their interactions with virtual assistants.
Yes, but: Consumers’ bad memories of past negative experiences with early menu-based chatbots and virtual assistants that force-marched them through a series of irrelevant questions may linger, hindering adoption. GenAI-powered virtual assistants will need to provide humanlike responses and live up to expectations set by consumers’ other AI interactions in their personal and professional lives.
Read this next for a deeper dive into forecasted adoption rates of genAI in banking chatbots in the US, Canada, and the UK. GenAI-powered chatbots are already taking off on social media platforms—you can read more about them here, and why we think they may end up directing more search activity to social media.
One Liberty Plaza9th FloorNew York, NY 100061-800-405-0844
1-800-405-0844sales@emarketer.com
