CANNES \u2013 Bank of America believes that artificial intelligence, along with its upcoming digital assistant dubbed Erica, will make the financial giant more nimble and predictive with its customers. \u201cI think it\u2019s going to be an incredible enabler and make us much quicker,\u201d BOA\u2019s CMO, Meredith Verdone, says of AI in this interview with Beet.TV at the Cannes Lions Festival of Creativity.<\/p>\n

The bank hopes that Erica will help to humanize relationships in what has historically been a very transactional service category. As The Wall Street Journal reports<\/a>, a client could say things like, \u201cI want to send money to a friend,\u201d or \u201cI want to pay a bill,\u201d and Erica could easily facilitate the transaction.<\/p>\n

\u201cI think this is really going to be a paradigm shift as we become much more relationship-centric,\u201d Verdone says.<\/p>\n

Another transition that has been under way at BOA is that of being more \u201caudience-first\u201d instead of looking for solutions and delivering them to audiences, according to Verdone<\/a>.<\/p>\n

\u201cAnd what we\u2019re finding, not surprisingly, is people do need more information about their finances. What we\u2019re trying to do is deliver it in a digestible, easy way that they want to engage with it.\u201d<\/p>\n

One particular target is the Millennial cohort, which Verdone describes as wanting to \u201cfollow their passion\u201d but not fully knowing whether they can afford to do so. This is one reason why BOA maintains an ongoing relationship<\/a> with online learning center Kahn Academy.<\/p>\n

On her list of exciting developments in advertising are addressable TV, \u201csomething that we\u2019re starting to tip our toe into\u201d given BOA\u2019s range of service offerings and audience needs.<\/p>\n

\u201cThe other thing we\u2019re seeing a lot of success with is sequential video,\u201d Verdone explains. For example, instead of running three separate 30-second spots on Hulu considering it an opportunity to have \u201c90 seconds in front of this audience. What is the story that we want to tell them in 90 seconds and to really think about it as a short film.\u201d<\/p>\n

Amid all of the talk of technology at Cannes, what Verdone doesn\u2019t want to lose sight of \u201cis the amazing creativity that is here.\u201d At the end of the day, \u201chow we connect on a very human level and break through and touch our customers is really what\u2019s going to make the difference.\u201d<\/p>\n

This video is part of Beet.TV’s AI Series from Cannes Lions 2017, presented by The Weather Company, an IBM Business<\/a>. For more from the series, please visit this page<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

CANNES \u2013 Bank of America believes that artificial intelligence, along with its upcoming digital assistant dubbed Erica, will make the financial giant more nimble and predictive with its customers. \u201cI think it\u2019s going to be an incredible enabler and make us much quicker,\u201d BOA\u2019s CMO, Meredith Verdone, says of AI in this interview with Beet.TV […]<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"mc4wp_mailchimp_campaign":[]},"categories":[6586,6588],"tags":[5012,5205,6569,6594,6595],"_links":{"self":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/46604"}],"collection":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/comments?post=46604"}],"version-history":[{"count":0,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/posts\/46604\/revisions"}],"wp:attachment":[{"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/media?parent=46604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/categories?post=46604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dev.beet.tv\/wp-json\/wp\/v2\/tags?post=46604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}