Virtual sexy chatbot
While Deutsche bank was clear that employing robots over humans is about efficiency, SEB is framing the development of Aida as a way to better serve customers.
Aida is a chatbot with vast amounts of individual client data, meaning she - Aida was designed to sound like a woman because of research suggesting customers feel more comfortable with female voices - can quickly handle straightforward customer needs.
AI might be part of the cure to the Swedish banking customer service issue - a recent study by market researcher Gf K said these chatbots could help close the gap between what bank customers hope to receive from their financial institutions and what they actually get.
The industry overall is experiencing a technological shift.
Last year, SEB rolled out a different virtual assistant named Amelia.
In Amelia's first three weeks, over 4,000 conversations were held with 700 employees, and she solved the majority of issues without delay.Deutsche Bank - one of the world's largest financial institutions - is gearing up to replace a large chunk of its workforce with robots.CEO John Cryan warned today that a 'big number' of people will lose their jobs at the firm as it automates to embrace its 'revolutionary spirit.'The Frankfurt, Germany-based company employs 100,000 people globally, but it's unknown how many will be laid off and replaced by machines or when the overhaul will occur.Former Barclays boss Anthony Jenkins called this an 'Uber moment.'Andy Haldane, chief economist at the Bank of England, has also warned that robots will be able to take on more work and endanger the banking jobs of 15 million Britians.
And it's not just the low-skilled jobs - he also warned more skilled roles such as administrative clerical jobs are at risk too.
Swedbank has Nina, a female-voiced assistant that allows customers to simply message her with their questions in order to find answers and identify the financial services best suited for their needs.