Scotiabank is bringing machine learning to its search function, prepping a chatbot that will be able to instantly answer complicated customer questions.
The Canadian lender has been using machine learning to help branch and call centre employees answer customer queries since 2018.
It is now boosting the experience by experimenting with an engine from AI outfit OpenAI, called Generative Pre-trained Transformer 3 (GPT-3), that understands language and is trained on trillions of words.
The bank hired Nicole Vavrukh, a third-year Simon Fraser University Computing Science student through the Bank’s Velocity programme, to work on a chatbot.
Yannick Lallement, director, data science, Scotiabank, says the bot "will be the first of its kind that answers financial banking questions based on knowledge published by a major bank".