An Analytical Study of Generative AI in Optimizing Automated Customer Support Chatbots: Reducing Resolution Time and Enhancing Customer Satisfaction in Retail Banking

Abstract

The recent development of AI has had a significant impact on the customer service systems in all industries as the chatbots become integral parts in the automated elements for achieving customer ease of accessing services through such channels. Artificial intelligence chatbots are now being implemented in retail banking to solve simple customer requests, process transactions, and resolve commonly encountered problems in the banks. This paper aims at evaluating the deployment of generative AI for the improvement of these chatbots with respect to reducing resolution times towards customers and to enhance overall satisfaction compared to traditional rule-based chatbot systems (Adamopoulou & Moussiades, 2020).