The Banking Executive Magazine - July 2024 Issue

the BANKING EXECUTIVE 46 ISSUE 187 JULY 2024 FinTech and AI Chornicle For many, AI chatbots are an intrigu- ing novelty, but for professionals in the banking sector, they have be- come game-changers, enhancing ef- ficiency and customer service. Yasmin Shaheen-Zaffar from North Yorkshire, who has dyslexia, dys- praxia, and attention deficit hyperac- tivity disorder (ADHD), faced challenges with written communica- tion. The advent of AI marked a piv- otal moment for her. “A few years ago, I started using [popular AI chat- bot] Jasper, and it transformed my life,” says Ms. Shaheen-Zaffar, a qualified psychotherapist. “It became my friend.” Jasper helps her refine the structure and spelling of her work, leading to the publication of her self-help book on neurodiversity. This illustrates how AI can assist banking professionals in drafting error-free reports and communica- tions, thereby enhancing clarity and professionalism. Neurodiversity includes various cog- nitive conditions like dyslexia, dys- praxia, ADHD, Tourette's, and obsessive-compulsive disorder (OCD). London-based tech entrepre- neur Alex Sergent uses AI to manage his OCD, leveraging Otter.ai, an AI- powered transcription app, to record and organize meetings. For banking professionals, this kind of AI tool can streamline meeting documentation, ensuring accuracy and saving time. Sergent notes that AI allows him to delegate tasks comfortably. “I've been doing that a lot with AI re- cently,” he says. According to Hayley Brackley, a neu- rodiversity specialist coach and trainer, the appeal of AI tools extends beyond convenience. “One signifi- cant factor is that there's no shame or stigma in asking AI tools like Chat- GPT for assistance,” she explains. Brackley, who has dyslexia, ADHD, and autism, appreciates that AI chat- bots let her “outsource my challenge without having to overly explain why to another human.” For banking sec- tor employees, AI can serve as a crit- ical tool for overcoming communication barriers, enhancing productivity and efficiency without the need for extensive justification or additional training. In her work with companies and neurodiverse employees, Brackley observes that some firms are more open to adopting assistive AI tools than others. However, she argues that when AI is available to the entire workforce, everyone benefits. “What happens is we introduce something for a minority, but it ends up helping the majority without disadvantaging anyone.” In the banking sector, im- plementing AI tools for a few can lead to widespread improvements in workflow and customer service. While many AI tools used by the neurodivergent community are mainstream, some are designed specifically for them. Goblin Tools, a website and app powered by Chat- GPT, allows users to create to-do lists, formalize written sentences, in- terpret email tones, estimate task du- rations, and get cooking tips. Belgian software engineer Bram De Buyser, who created Goblin Tools, describes it as a tribute to his neurodivergent friends. For banking professionals, similar AI tools can help in task man- agement, ensuring deadlines are met and communication remains clear. The site now attracts 500,000 users monthly and is free to use, though the app versions require payment. AI chatbots are also being developed for neurodivergent children. Inner- Voice, an app by Californian tech firm iTherapy, targets children with autism. Parents can animate a fa- vorite toy or pet to become a talking avatar on a screen. Matthew Gugge- mos, co-founder of iTherapy, notes that autistic children often engage more with computers than the real world. He foresees AI increasingly helping the neurodivergent, stating, “AI can give neurodivergent people extra tools and help them communi- cate with less effort if necessary.” In the banking sector, AI chatbots and tools offer substantial benefits by streamlining processes, enhancing communication, and supporting neu- rodiverse employees. This techno- logical advancement not only aids in personal efficiency but also con- tributes to a more inclusive and pro- ductive work environment. HOW AI CHATBOTS ARE REVOLUTIONIZING SUPPORT IN THE BANKING SECTOR