Lodum AI Banking Launches World’s First Smart Banking Experience Across WhatsApp, Telegram, Alexa and Google Speakers – THISDAYLIVE THISDAYLIVE
For the Financial Services & Fintech sector, this represents a shift towards embedded finance and conversational banking, enhancing accessibility and convenience for customers. It forces existing financial institutions to adapt and integrate AI solutions to remain competitive or risk losing market share to more agile, AI-driven players.
From an operational perspective, this technology automates routine banking tasks, potentially reducing the workload on human customer service agents and improving response times. However, it also requires careful management of data privacy, security, and ongoing model training to maintain accuracy and effectiveness, demanding skilled AI/ML engineers.