Why AI Chatbots Succeeded in the Healthcare and Banking Industry

With some help from life-changing technology like AI chatbots, the banking and healthcare industry is becoming as transformative as ever.

Since the surge of GPT-powered chatbots and chatbot integrations for better customer experience, its global impact across multiple industries including healthcare and banking resulted in a $195.85 million healthcare market size value, according to the Global Healthcare Chatbots in 2022, while the banking sector's cost savings will also be expected to reach $7.3 billion globally. 

An investment worth keeping your eyes on. 

Here are a couple of use cases that prove to be a massive success. 

Surpassing a billion interactions, Bank of America’s virtual assistant with chatbot interface “Erica” has served and proved to be efficient since 2018 with promising jobs to carry out higher-value tasks and financial transactions.

Covid-19 has also evidently paved the way for the global healthcare sector to maximize the potential of AI assistants.

Leading countries like the US, India, Germany, the UK, and Brazil all joined the chat.

HealthDesk, a collaboration of The Indian Government and WhatsApp and other services during the pandemic, provided pre-consultant, vaccine tracking, and appointment booking prior to further tailored procedures with a user-friendly experience, making it extremely attractive to many corporations. 

Although chatbots have initially been deployed to mainly provide information dissemination and risk assessment, the study shows, they are capable of much more.

What are the primary goals for both sectors?

What both industries have in common is that it requires customers’ trust in personal information to be handled professionally, the workload to be eased, and high-quality service to maintain.

These chatbots serve the purpose as it helps execute a number of tasks systematically and adaptively like providing tailored recommendations and scheduling a visit or request while detecting fraud with machine learning algorithms.

What can chatbots do for the healthcare industry?

• Optimize healthcare service: carry out appointment scheduling, patient education, prescription refills, and ensuring data security and privacy
• Provide personalized assistance and 24/7 support: from answering basic health-related queries, providing self-care tips, or offering guidance during emergencies
• Manage appointments: allowing patients to book, reschedule, or cancel appointments 
• Serve as virtual health educators: provide personalized advice based on individual health profiles, ensuring patients have access to accurate and reliable healthcare knowledge
• Reduce manual intervention: request prescription refills conveniently by integrating with electronic health records (EHR) systems
• Safeguard patient information: provide secure data storage, a secure platform for patients to interact and share sensitive medical information

What can chatbots do for the banking industry?

• Offer solutions: simplify transaction processes and resolve queries related to account balances, transaction history, loan applications, and more. 
• Provide customer support: enhance customer satisfaction and strengthen the bank-customer relationship
• Understand individual preferences: analyze customer data and transaction patterns to offer personalized banking recommendations and financial advice
• Perform banking operations conveniently: provide a user-friendly interface that simplifies complex financial transactions
• Run by advanced algorithms: monitor customer transactions, detect suspicious activities, and flag potential fraud in real-time

Our fellow ASEAN countries had adopted and won

CIMB EVA proved efficient with 1.4 million transactions and other service requests from 212,000 customers through the app in Malaysia, resulting in an increase in customers’ current and savings account balances with the bank, +7% in addition to the adoption of the CIMB Clicks digital platform alone.

Following successful initiatives in enhancing the brand experience with a chatbot solution, CIMB Malaysia and Singapore’s EVA, launched in December 2016 and May 2020 accordingly, was awarded the Best Self-Service Project in The Asian Banker Technology Innovation Awards 2017 and the Singapore Digital Experience of the Year in the Asian Experience Awards 2022.

This highlights the promising opportunities for growing and upcoming organizations to prove that with the right tool, they, too, can be globally outstanding and successful.

Look no further than Amity Solutions’ Customer Stories

Given a series of benefits, our clients, including those in the banking and healthcare sectors, integrated Amity Bots into their communication channels so that they are able to maximize two customer-facing channels to promote campaigns and offers, provide personalized services, facilitate transactions, send timely notifications and alerts, assist with product registration, and even connect customers to the call center.

Achieve your goals with us.

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Source :

https://www.indiatoday.in/technology/news/story/india-gets-its-first-chatgpt-powered-ai-chatbot-lexi-here-are-the-details-2335120-2023-02-15

https://go.valorem.com/rs/689-NXX-809/images/Chatbots-in-Healthcare-Industry-Analysis.pdf

https://asianbusinessreview.com/co-written-partner/event-news/humanising-banking-experience-through-chatbot-solution

https://www.theasianbanker.com/updates-and-articles/cimb-tests-acceptance-of-chatbots-in-malaysia