--- title: AI AND CHATBOTS IN FINANCE description: Chat support has proven to be a more effective alternative than phone support. Both beat traditional, face to face support operations in effectiveness and costs, but chat can be integrated with your existing CRM systems, beating even phone support. image: https://www.getjenny.com/hubfs/business-861325_1920.jpg --- ![Jenny](https://www.getjenny.com/hubfs/GetJenny2020/icons%20and%20logos/logo-purple.svg) by Jenny on September 05, 2018 # AI AND CHATBOTS IN FINANCE Today’s finance industry is racing to embrace artificial intelligence. As consumer expectations are on the rise, the finance industry is deploying chatbots to bring new insights and efficiency to tasks. The largest spenders on AI are banks with an average of $77 million per company in 2015. In fact, chatbots will be handing at least 85% of all customer service interactions in banking in 2022, according to a recent analyst report by [Juniper](https://www.juniperresearch.com/press/press-releases/mobile-banking-users-to-reach-2-billion-by-2020). Not only will chatbots be available to help customers 24/7 to organize their personal finances, but they will also help with expense tracking and alerts, managing business expenses for tax deductions, and perform simple online transactions.   Some finance companies that have already been using AI in 2015 reported 17% increase in revenues and 13% decrease in costs. When chatbot use is further fostered, the industry will gain a better understanding of customer behavior which will allow a more accurate and adequate responce to their needs. Financial industries mostly use AI in IT, followed by the department of finance and accounting, customer service, sales, corporate levels, marketing, and R&D. The use of AI and chatbots will boost financial services and help in regulatory and systemic risk surveillance which are key benefits for the financial stability. [![Watch the webinar - How to run a successful chatbot project](https://no-cache.hubspot.com/cta/default/4040542/dad22829-fdfc-4055-9b99-69470cae0d74.png)](https://cta-redirect.hubspot.com/cta/redirect/4040542/dad22829-fdfc-4055-9b99-69470cae0d74) If you would like to learn more about the use of AI and chatbots in industries,  please read our [guide on AI and chatbots](https://www.getjenny.com/chatbotsinindustries). ![Jenny](https://www.getjenny.com/hubfs/GetJenny2020/icons%20and%20logos/logo-purple.svg) ###### [Jenny](https://www.getjenny.com/blog/author/jenny) ### Similar articles ![](https://www.getjenny.com/hubfs/best-tools-for-customer-support-2021_listing.jpg) ##### The Best Customer Service Tools in 2021: A Comprehensive Guide 100+ best customer service tools reviewed for you! Learn the benefits of each tool and decide the best fit for your organization, updated for 2021. [Read on](https://www.getjenny.com/blog/the-best-customer-service-tools-in-2020) ![](https://www.getjenny.com/hubfs/Partnership_in_Action_GetJenny_Featured_Image_listing.jpg) ##### Partnership in Action: Chatbots for the Pensions Industry Learn how GetJenny builds partnerships to bring chatbots to new industries. Riku Salminen shares his thoughts about how partnerships work for... [Read on](https://www.getjenny.com/blog/partnership-in-action-chatbots-for-the-pensions-industry) ![Live-chat-tips-for-customer-service](https://www.getjenny.com/hubfs/blog-images/Live-chat-tips-for-customer-service_listing.png) ##### 8 live chat service tips: how to deliver an amazing service? Great customer service is worth the effort. Here are 8 tips that help you to deliver amazing live chat service to your website visitors and turn them... [Read on](https://www.getjenny.com/blog/8-live-chat-service-tips-how-to-deliver-an-amazing-service) #### Get three content pieces our community found the most useful in 2021: [![GetJenny - A Customer Service Automation Company](https://www.getjenny.com/hubfs/GetJenny%20by%20LeadDesk/logo/GetJenny-by-leadDesk-vector.svg)](https://www.getjenny.com) GetJenny develops JennyBot, a chatbot builder with a custom natural language processing engine (NLP). With JennyBot, you can easily build intelligent chatbots to improve customer experience, automating manual work in customer service, lead generation, HR and internal communications. ###### GET JENNY OY Business ID: 2562711-7 [LeadDesk's Privacy Notice](https://leaddesk.com/privacy-statement/) ###### CUSTOMER SUPPORT support.chatbot(a)leaddesk.com ###### CONTACT SALES chatbot(a)leaddesk.com ###### ADDRESS Urho Kekkosen katu 4-6 00100 Helsinki Finland