NatWest, in collaboration with IBM (NYSE: IBM ), has announced the launch of its upgraded virtual assistant, Cora+, using IBM's generative AI technology, watsonx. This move places NatWest among the first UK banks to incorporate generative AI within a virtual assistant, aiming to provide safer and more intuitive customer interactions.
Cora+ is designed to offer personalized responses to complex queries, compare products, access information, and explore career opportunities within the NatWest Group (LON: NWG ). This development aligns with NatWest’s commitment to improving financial well-being through personalized support and promoting safe and ethical AI practices in its digital services.
Wendy Redshaw, Chief Digital Information Officer of the NatWest Group’s Retail Bank, emphasized the bank's focus on building trusted relationships with customers through meaningful engagement. She pointed out the importance of leveraging generative AI innovations to make Cora+ feel more 'human' and reliable for customers.
The IBM Client Engineering team is partnering with NatWest's teams for the rapid co-creation, testing, and validation of this AI digital assistant. This positions NatWest among the pioneering UK banks deploying generative AI for secure, intuitive digital services.
This partnership is part of NatWest’s Digital X Strategy focusing on engineering, protection, and operation. Over 40% of banking and financial market leaders expect generative AI, deep learning, and machine learning to deliver significant financial results in the next three years.
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