Deliver New Customer Experiences Through AI-enabled Chatbots

© 2018, Amazon Web Services, Inc. or its Affiliates. All rights reserved.
Deliver new customer
experiences through AI-
enabled chatbots
January 24, 2018 | 8:00 AM PT | 11:00 AM ET | 4:00 PM GMT

Today’s speakers
Dan White, Partner SA Team Lead UK, Amazon Web
Services
Gareth Addison, Director of Engineering, Deloitte Digital
Alexander Fritz, Product Manager, Deloitte Digital

• Identifying the challenges for the Financial Services sector
• Understanding the benefits of using Amazon Web
Services (AWS)
• Digital transformation on AWS for the Financial Services
sector
• Developing chatbots on AWS with Deloitte
• Q&A/Discussion
Today’s agenda

Learning objectives
• Understanding the core benefits of using AWS
• Digital Transformation on AWS for the Financial Services
sector
• Developing chatbots on AWS with Deloitte

© 2017, Amazon Web Services, Inc. or its Affiliates. All rights reserved.© 2017, Amazon Web Services, Inc. or its Affiliates. All rights reserved.
Expanding regulatory
oversight and ever-
increasing compliance
obligations
Tighter focus on
information security
due to public scrutiny,
the frequency and
ferocity of hacking
attacks, and regulatory
initiatives
Rising volumes of
data and the need to
store and analyze it for
compliance &
competitive purposes
Increased competition,
both from traditional
peers and new non-
traditional players
The rapidly changing
compute paradigm:
on-premises is no longer
more secure or cost
effective; IaaS continues
to power innovation
Scarce resources – in
all areas including
capital outlay,
headcount, and
specialized skill sets.
What are the challenges for the Financial Services sector?

Complex legacy infrastructure makes it hard…
The Financial Services Borg
Cube:
Historically grown, monolithic,
and complex infrastructure
 Expensive to run
and to change
 Innovation
constrained and slow
 Step change cost
reductions difficult

…for FS to drive digital transformation
Source: McKinsey

Percentage of the 2016 Forbes
FinTech 50 that use AWS
AWS is also the first choice for FinTech startups
“Banks aren’t being disrupted by FinTech
technology, they’re being disrupted by customer
expectations.”
- McKinsey & Company
96%

Monzo Bank: Building a Mobile-First Digital Bank
• Founded in Feb 2015
• Built on AWS using microservices
architectures
• Received a full UK banking license
from the FCA and PRA in April
2017
• New features voted for by
customers

Financial institutions trust AWS to transform their
businesses
Banking & Payments InsuranceCapital markets
Capital One

How financial institutions transform their businesses with the
cloud
Build a compliant and protected
environment
Drive digitization and compete with
disruptive technologies
Use increasing amounts of data to
identify new business models and growth
opportunities
Reduce risk with better tools, better
data and latest security technology
Structurally lower the cost base by
eliminating costly technical debt,
making run and change simpler
Highly scalable infrastructure for
analytics that matter to the Industry
The need to increase profitability and
resource constraints in all areas
Ability to bring new ideas to market
faster

AWS Foundation Services
Compute Storage Database Networking
AWS Global
Infrastructure
Regions
Availability Zones
Edge
Locations
Client-side Data
Encryption
Server-side
Data Encryption
Network Traffic
Protection
Platform, Applications, Identity & Access Management
Operating System, Network, & Firewall Configuration
Customer applications & content
Security & compliance is a shared responsibility
Customers have
their choice of
security
configurations IN
the Cloud
AWS is
responsible for
the security OF
the Cloud

Cloud is enabling transformation and innovation in the
industry
Widespread
adoption today
Art of the
possible
Grid
computing
Agile data
analytics
Migration of
core
systems
Blockchain
and DLT
Artificial
Intelligence/
Machine
Learning
As financial institutions better understand their ability to meet regulatory compliance obligations when operating in the
cloud, they are increasingly focused on leveraging the cloud to transform their existing businesses and bring innovative
new solutions to market.

AI and ML are the next edge in digital innovation
• Credit card/account fraud detection
• Sales practices/ transaction
surveillance
• AML/Sanctions
• Investigations optimization
• Regulatory mapping
• Common financial
instrument taxonomy
• Contract ingestion and
analytics
• Financial information
extraction
• Corporate actions
• Loan/Insurance
underwriting
• Sales/ recommendations
of financial products
• Credit assessments
• Portfolio management/
robo-advising
• Algorithmic trading
• Sentiment/news analysis
• Image analysis
• Grid computing scheduling
• Enhanced customer
service through chatbots
• Call center optimization
• Personal financial
management
Compliance,
Surveillance, and
Fraud Detection
Pricing and
Product
Recommendation
Document
Processing
Trading
Customer
Experience
Core processing Client facing
Financial institutions are increasingly investing in artificial intelligence (AI)/machine learning (ML) thanks,
in part, to the availability of cost-effective, easy-to-use, and scalable cloud-based AI/ML services.

CHATBOTS
ADOPTING THE POWER OF
CONVERSATIONAL UX

Email and phone calls are increasingly being
replaced by apps and social media platforms,
which customers are already using.
We think that you should just be able to message a business in the same
way you message a friend. You should get a quick response. And it
shouldn’t take your full attention like a phone call would. And you shouldn’t
have to install a new app.
— Mark Zuckerberg, 2016

Organisations are rapidly
leveraging artificial intelligence
to dramatically change the way
they interact with customers.

WHAT IS A CHATBOT?
Advanced software learns from
past interactions, improving
responses over time
Enables human-like interactions
delivered through a channel that
is easily scalable
Experiences range from
functional to fun
The first challenge is identifying and understanding the underlying intent in a human phrase, by extracting key
elements:
“Could you please [transfer] [£100] from my [Pay account] to my [Spend
account]”
Intent Entities
Utterance
INTRODUCTION
Conversational experiences use artificial intelligence and natural language processing to
mimic conversations with real people in both written and voice format.

WHAT IS A CHATBOT? (cont.)
Conversational experiences use artificial intelligence and natural language processing to
mimic conversations with real people in both written and voice format.
The second challenge is the technology’s ability to recognise an almost infinite number of ways to ask for
the same intent. Understanding such intent depends heavily on Natural Language Processing (NLP), and
requires relevant context in order to provide accurate results or services.
Simple phrases such as "Let's get a coffee" could mean many things without context.
I want a coffee
tomorrow
I like coffee Order a coffee
We should
have coffee
Let’s get
coffee
Hey, let’s get
coffee
I could go for
some caffeine
Let’s have a
cappuccino
Get a
Starbucks
latte
Context Order a coffee from
Starbucks now, and
deliver it to my office
INTRODUCTION

TYPES OF CHATBOTS
ADVISORY
• Self-learning chatbots are the
next evolution in chatbots.
• They are able to learn based
on customer interactions to
determine the appropriate
next steps.
INFORMATIONAL
• Informational chatbots are
the simplest type.
• They usually involve
providing general
information such as FAQs,
news stories & push
notifications.
TRANSACTIONAL
• Transactional chatbots
allow users to complete
transactions and interact,
(such as booking a hotel).
• Typically they require a
user to be authenticated
into their user account.
INTRODUCTION

ADOPTION OF CHATBOTS
BANKING BOTS GASTRONOMY E-COMMERCE
The bot phenomenon will cause broad disruption in many areas of the economy
INTRODUCTION
•Check your balance
•Set financial goals
•Gain spending insights
•Transfer money
•Pay friends and bills
•Browse menus
•View recommendations and
reviews
•Align with one's nutrition diet
•Order and pay
•Get personalised offers
and deals
•Ask about fashion trends
•Shop a directory
•Order and pay directly

A GROWING MARKET
GREATER AVAILABILITY
Over 100,000 chatbots on
Facebook Messenger (April
2017), from 33,000 6 months
before.
67% of industry professionals
believe that chatbots will
outperform mobile apps in the
next 5 years.
Chatbots are growing rapidly in number and intelligence
INCREASED EFFICIENCIES
Predictions that bots will save
businesses $8 billion per year by
2022.
Healthcare and banking providers
using bots could see time savings of
over four minutes per enquiry,
equiv. $0.50-$0.70 per interaction.
CUSTOMER ADOPTION
By 2022, we’ll be talking to
bots more often than we talk
to our own spouses.
By 2018 over 2 billion people, or
80% of all smartphone users, will
use mobile messaging apps
INTRODUCTION
Jennifer Griffin, Bazaarvoice, Chatbots and humans: Can’t we just get along?, July 16, 2016,
https://venturebeat.com/2017/04/18/facebook-messenger-hits-100000-bots/
Usability 24/7, https://www.usability247.com/resources/emerging-technology-innovations/chatbots/
Trips Reddy, IBM, Chatbots for customerservice will help businesses save $8 billion per year, May 10, 2017,
https://www.ibm.com/blogs/watson/2017/05/chatbots-customer-service-will-help-businesses-save-8-billion-per-year/
Lynsey Barber, CITYA.M, Chatbots could save business $8bn a year by 2022, with banks and healthcare gaining the biggest cost
savings, May 9, 2017, http://www.cityam.com/264384/chatbots-could-save-business-8bn-year-2020-banks-and
Heather Pemberton Levy, Gartner, Garter Predicts a Virtual World of Exponential Change, October 18, 2016,
http://www.gartner.com/smarterwithgartner/gartner-predicts-a-virtual-world-of-exponential-change/
Blake Morgan, CMO Network, How Chatbots will transform customerexperience: An infographic, March 21, 2017,
https://www.forbes.com/sites/blakemorgan/2017/03/21/how-chatbots-will-transform-customer-experience-an-
infographic/2/#88dca1510014

CHATBOT BENEFITS
Chatbots are data driven, scalable and enable a richer customer experience
USER ENGAGEMENT
Customers are increasingly
demanding instant forms of
communication. Messaging apps
and social media have replaced
emails and phone calls.
A chatbot bridges this
communication gap between you
and your customers.
24/7 AND SCALABLE
Chatbots enable you to service your
customers throughout the day. They
are trusted and reliable employees,
always available and accurate.
Once you have designed and built
your conversational experience , a
chatbot can perform the task it has
been built to do 24/7.
INTELLIGENCE ADVANTAGE
Chatbots enable a deeper
understanding of how customers
speak, meaning you are able to
better respond to their needs.
Integrating chatbot ‘intelligence’
within an experience also creates a
more robust business model that is
difficult for competitors to replicate.
INTRODUCTION

Despite their popularity, it isn’t as
easy as it seems to create a truly
valuable chatbot. You need to
design an experience that
provides value both to the
customer and business.

CHATBOT BLUEPRINT
Our ‘Chatbot Blueprint’ ensures all building blocks are addressed
What job does the
user want to
complete?
What content is
needed to complete
the user’s objective?
How will the user
interact with and
navigate the
experience?
How does the
conversational
experience fit in with
everyday business?
How will the bot
improve, learn and
evolve over time?
2. CUSTOMER
ROLE
3. RELEVANT CONTENT 4. NAVIGATION 5. BUSINESS FIT 6. LEARNING
Who are we building the
experience for?
What is need / frustration
is being met?
What are the tasks that
will deliver against the
need?
What is the information
you need to surface in
the conversation?
How will you access the
information?
How will you organise
and display the
information?
How will the design
enable a useable
experience?
What intent(s) does your
experience enable?
What are the
conversation flows that
fulfil each intent?
How will the experience
support the business’s
objectives?
How will it support
existing human services?
What personality and
language will you use
and does it fit with the
business?
How will you drive usage
over time?
How will you generate
customer learnings?
How will you improve the
accuracy of the bot?
What are the stage gates
to full launch?
1. PURPOSE: WHAT IS THE OBJECTIVE OF CREATING A CONVERSATIONAL EXPERIENCE FOR YOUR BUSINESS?
7. ENABLERS: What are the skills and roles
needed to deliver the experience?
What is the time and budget
commitment required?
What are the support tools needed
to deliver the experience?
OUR APPROACH

WHO ARE YOU DESIGNING FOR?
Brands are designing their customer journeys around a single persona, unconsciously
excluding those that don’t fit. Chatbot users are not the same, consider the five key types
BEING A CUSTOMER CHAMPION
Chatterbox: Make sure you remove dead ends
Enthusiast: Make sure you ask for feedback
Sceptic: Prove value at the start
Joker: Include Easter
eggs
Problem child: Help them out

EMBEDDING LEARNINGS
Ensure you are able to generate learnings from day one
PRODUCT
ROADMAP
EXPERIENCE
LEARNINGS
ITERATIVE
BUILD CYCLE
Identify target segment
customer needs and a
set of chatbot features
which solve this need.
Define specific user
stories to build and a set
of metrics to measure
their performance and
impact.
Organise metrics around three key areas:
a) Do customers like the experience?
b) Is the intelligence improving and at what
rate?
c) Are you able to effectively operationalise
interactions resulting from the experience?
Create a dashboard, measure daily and
review weekly with the core experience team
to identify relevant changes.
Use an iterative approach
to build the chatbot
experience and ensure
you are able to adapt the
experience in the moment.
BUILD, TEST, ITERATE

TEST, LEARN, ITERATE…REPEAT
A rapid process to define, validate, and teste your chatbot use cases, before
building and piloting your MVP chatbot experience
DISRUPT MISION:
Identify and validate chatbot use case
FOUR WEEKS
BUILD MISSION:
Build MVP & design pilot
TBC WEEKS
VALIDATED USE CASE MVP PILOT
Test, learn, iterate
Test, learn, iterate
CORE CLIENT SQUAD THROUGHOUT + FUNCTIONAL EXPERTS
END-TO-END BUILD AND DESIGN

TECHNOLOGY ARCHITECTURE
INSIGHT
Amazon Lex

CASE STUDY #1
PROCUREMENT ASSISTANT
Industry: Pharmaceutical
Location: Multiple locations including US, UK and Europe
Users: Employees
Duration: 8 weeks
Knowledge Provision: Location-dependent responses
UI: Webpage split-screen (dialogue interaction & supplementary
information)
Exchange & Flows: Conversation flow to determine type of contract or
PO required based on user request. Guidance exchange flow to allow user
to receive information in a step by step manner to allow more digestible
interaction. Feedback exchange to capture more in depth user feedback.
Functionality

CASE STUDY #2
RETIREMENT ASSISTANT
Industry: Life Assurance
Location: UK
Users: Customers
Duration: 8 weeks
Functionality
Knowledge Provision: Retirement knowledge base
UI: Live website integrated with assistant window, page change triggered
by conversation context
Exchange & Flows: Survey/feedback capture

Q & A

Learn more about Deloitte Digital
Deloitte.co.uk/FS
Learn more about Deloitte Digital’s chatbots
www.deloitte.co.uk/chatbotFS
Learn more about Financial Services on AWS
https://aws.amazon.com/financial-services/
Try AWS for free:
https://aws.amazon.com/free/
Next steps and further information:

Thank you!

Deliver New Customer Experiences Through AI-enabled Chatbots

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