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A banking chatbot is best described as what?
ASoftware that uses AI to simulate a conversation
BA call centre staffed by trained bank employees
CAn app that moves money between two accounts
DA machine that dispenses cash around the clock
Answer & Solution
Correct answer: A. Software that uses AI to simulate a conversation
1. A chatbot is computer software that uses artificial intelligence.
2. What it uses that intelligence for is simulating conversation with humans.
3. Banks deploy it for what they call conversational commerce, meaning interaction with customers over messaging and digital platforms.
4. A staffed call centre is a human channel, and the whole point of a chatbot is that no human is on the other end.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 15 "Understanding Money and Financial Institutions", section 15.6 Trends in Financial Institutions_
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