ArvatoConnect's latest research with 1,000 senior decision makers across the UK industry shows that while 88.3% believe AI can improve customer outcomes (through digital agents, personalised journeys and earlier identification of vulnerability), only 23% are confident their approach is not increasing the risk of bias or digital exclusion for vulnerable customers.
And this is being felt by those very customers themselves, with nearly three-quarters (74%) admitting they have felt like giving up while trying to get help from their bank, insurer or provider.
The problem? Too many businesses are leading with the tech, rather than the outcome.
Only 31% sandbox-test their AI systems for biased or unethical outcomes before deployment; just 27% test using vulnerable customer scenarios and 26% conduct formal impact assessments on vulnerable customers.
AI should be there to enable better experiences, not define them. That means going back to customer service 101. Understanding where customers struggle, what good looks like for them, and then designing services – with or without AI – around those needs.
In this report, we’ll cut through the noise to explore what’s really happening inside financial services organisations, how AI can and should improve outcomes for customers when implemented safely and fairly, and we’ll share simple, practical design principles to help close the confidence and implementation gap.