SBI introduces AI-based chat assistant

Mumbai Sep 25 (IANS) The State Bank of India (SBI) on Monday announced SBI Intelligent Assistant (SIA) -- a chat assistant aimed to address customer enquiries like a "bank representative" does.

Developed by Payjo an artificial intelligence (AI) banking platform "SIA" is equipped to handle nearly 10 000 enquiries per second or 864 million in a day -- which is nearly 25 per cent of the queries processed by Google each day.

"SIA is a perfect example of ground-breaking banking application in AI and Conversational Banking (CB). It will enhance customer service several notches above and Payjo s expertise in the conversational banking domain helped us build SIA as a superior chatbot in the global banking space " said Shiv Kumar Bhasin CTO of SBI in a statement.

The chat assistant would be available across multiple customer touchpoints like mobile IVR SMS and social media platforms. "SIA" would also be enabled to interact in most regional languages.

" SIA is a revolution in the banking industry. It is set to disrupt the way banks and customers interact " added Srinivas Njay Founder and CEO of Payjo.

Currently the chat assistant can address enquiries on banking products and services. It is trained with a large set of knowledge and is adept at answering frequently asked questions.

--IANS
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