With the help of a hidden earpiece, a ‘source’ whispers words into the ear of a ‘shadower’ , who repeats them. A researcher in another room is listening in on what the interactant says, via a hidden microphone, and types the interactant’s words into a chat-bot program. Unbeknownst to them, the stranger’s words were being controlled by a chat-bot (either Cleverbot, Rose, or Mitsuku).
In research published last year, British psychologists Kevin Corti and Alex Gillespie showed that cyranoids are hard to spot: if you were speaking to one, you probably wouldn’t know it, even if the source was an adult and the shadower a child, or vice versa. The conversation was conducted either via text chat, or face-to-face (i.e. The volunteers were not told about the presence of the chat-bot.
Two of every three adults worldwide are financially illiterate, meaning they lack the knowledge and skills to use their financial resources effectively for lifetime financial security.
This staggering share of people is disproportionately concentrated in developing countries, where formal financial services and financial assistance programs are often lacking.
I am curious if my paycheck has hit my checking account, and I get an instant answer.
I wonder when I have my first call with a new client, and that answer is delivered to me on the spot. Others are very complex and may even surprise the most technically savvy with their efficiency and ability to solve our problems without ever interacting with another person. A conservative field, which has only recently started to take advantage of tech innovations, the banking world is a prime example of where technology can solve many of our problems as customers – where the use of chat bots can reduce friction points while improving the operational efficiency and reduce the cost to serve for the banks that service our financial needs. leveraging natural language processing to interpret and respond to specific text and voice commands (questions).
Here’s how it works: In one room, a normal person (‘interactant’) sits down with another person, the ‘shadower’. They were simply told: That the study concerned how strangers conversed when speaking for the first time, that it involved simply holding a 10-min conversation with another research participant, and that they were free to decide on topics for discussion so long as vulgarity was avoided.
Others thought that the study was about people with autism or a speech impairment.
As I get out of bed I ask Alexa what time it is, what’s on the news and what the weather will be like. I have speakers installed in the shower and they start airing Amy Goodman’s “Democracy Now” morning show.
I ask about my stocks and how they’re performing this morning.
Today, with the help of Amazon’s Echo, Google calendar integration, Slack, Siri and the like – this is all possible. For example: if a bank decides to enable balance notifications for their users, a chat bot can be set up so that when a customer asks “balance,” they get an answer with the exact amount of money currently available in their account.
New fintech companies are emerging virtually overnight (some operating 90% or more on chat bot technologies only) and releasing financial products that are easier to use, more customer friendly and more convenient overall than legacy banking products.