Banks are embracing agentic AI, with 70% of executives reporting its pilot use, according to a poll by MIT Technology Review Insights. These AI agents streamline routine tasks, enhancing customer experience (CX) and allowing human agents to tackle complex issues. However, risks arise as these systems can be exploited for fraud, cyberattacks, or cause market instability. Financial institutions must implement robust guardrails, balancing adaptation while avoiding hard-coded vulnerabilities susceptible to exploitation. Regular audits and ensuring human oversight are essential for maintaining operational safety. A unified customer experience management (UCXM) platform is vital as agentic AI’s effectiveness relies on comprehensive customer data, improving both service quality and fraud prevention. The exciting potential of agentic AI must be navigated cautiously, with an emphasis on security and responsible usage to protect customers and the financial system. As banks advance into AI, vigilance becomes paramount to fend off malicious actors.
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