What People Are Saying
Check out the latest news on Kasisto and the growth of conversational AI.
Named Val, the bot will help Varo customers plan emergency savings, set goals, and provide insights that help them keep track of and control their spending. Created by Kasisto, the bot can answer more than 1,000 questions about an individual’s personal finances.
"We wanted to do a genderless bot, not an assistant that was a continuation of what was already out there," says Dror Oren, the co-founder and VP of Product at Kasisto, the financial tech startup that created KAI. "As a company, we had a choice here. We could have KAI respond with flirts and funny jokes, or we could choose to answer with a funny joke, but not a flirt."
As Gupta describes it, Watson “is an inch deep and a mile wide”, trained to process and answer questions on diverse topics from health, cooking and gardening to banking. Meanwhile, DBS has found Kasisto, the chatbot in digibank, to be performing exactly what it is supposed to do. It is answering all the questions asked of it. “It is taking care of 95% to 96% of all our queries, and handled without human interference,” Gupta says. This is because Kasisto was created to operate in the financial services domain and hence built in with a lot more financial expertise and the ability to understand and answer financial and banking queries.
A few start-ups have already found success — and attracted attention from the banks — by creating chatbots that do particular financial tasks.
Early next year, MasterCard is launching its own banking bot, in partnership with the artificial intelligence company Kasisto, that will allow users to interact with a chatting robot via Facebook messenger.
Ben Fox Rubin
"As this develops, we plan to add a lot of other functionality," said Sherri Haymond, Mastercard's executive vice president of digital partnerships. "It seems like a very natural next step and we are leaning in here."
Mastercard customers in the United States can now use an A.I.-powered bot to ask more than 1,000 questions about personal finances and other subjects. Mastercard KAI will be rolled out to U.S. Mastercard credit card and banking customers in early 2017. The bot is made by Kasisto, a spinoff of Siri creator SRI International.
"We are seeing consumer preferences shifting and we want to make sure that we stay relevant," said Kiki Del Valle, Mastercard SVP of commerce for every device. The bot — which launches first in the U.S. next year — is nicknamed "Mastercard KAI." The company announced the new bot on Tuesday during the Money 20/20 conference in Las Vegas.
Michael J. Coren
Before launching Kai, the company’s founder Dror Oren wanted to ensure the bot represented the company’s values by defying gender expectations. The research suggests “people would rather get advice from women,” says Dror. “We decided it was our place to take a stand, or educate if you will. Just because people are used to getting advice from a female secretary, it doesn’t mean we have to do the same.”