Fintech Review is an independent online media on a mission to decrypt what is happening in fintech around the world. They interviewed Rana Gujral, CEO at Behavioral Signals, who talked about technology and how far the latter can understand humans and our emotions, emotional artificial intelligence (Emotion AI), AI-Mediated Conversations, and how these can apply and impact financial services.

“With technology taking us so far, it is easy to forget about what makes us humans… it is not obvious to associate emotion with artificial intelligence, but maybe it should be.”

He talked about Behavioral Signals, a deep tech company bridging the communication gap between humans and machines by introducing emotional intelligence, from speech, into conversations with AI, and its flagship, AI-Mediated Conversations (AIMC), a tool that uses artificial intelligence and tone of voice to create a perfect match between a customer and an agent for the best outcomes. This matching is built using algorithms developed over years of research, as well as a deep understanding of Natural Language Processing (NLP) and Behavioral Signal Processing.

“AI-MC technology is useful in sales calls, revenue recovery calls, or in any other conversation where customer satisfaction is paramount. Whatever the objective, there is always a catalyst that allows the negotiating parties to reach the desired result.”

According to him, Emotion AI is uniquely positioned to enhance the banking interface. By understanding the opportunities and challenges of integrating it into banking systems, managers can unlock a vault full of possibilities. Rana presented specific case studies where banks enjoy up to an 18% increase in revenue, and 10% in customer satisfaction, by implementing AIMC, but also spoke about how hesitant financial institutions are in deploying novel technologies like Emotion AI and that many of them still find solutions like AIMC “exotic.

“While many may consider AI solutions exotic, timely to implement, or security-sensitive, there are innovative solutions that can showcase immediate ROI while respecting the security and privacy rules.”

Finally, he pointed out customer satisfaction and experience as the primary concerns in the market and talked about how Behavioral Signals is focusing on those concerns and further enabling its flagship products with an empathy model, insightful agent alerts, customer churn predictor, and a customer satisfaction score.

Read more here, Emotion AI in financial services: Interview with Rana Gujral