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DOM.RF: Every third Russian uses AI services in banking products
More than 32% of Russians say they use artificial intelligence (AI)-based services in their banking products. This was reported by Nikolay Kozak, Managing Director of DOM.RF and Deputy Chairman of the Board of Directors of DOM.RF Bank, at the session of the FinTech and DOM.RF Association “Artificial Intelligence: From Theory to Practice” at the FINOPOLIS forum.
The expert session, which was attended by representatives of banks, insurance organizations and technology companies, was devoted to the practical application of artificial intelligence technologies in the financial industry, modern barriers to the replication of solutions on the market and the future development of artificial intelligence.
“It is impossible to implement AI without taking into account the opinions of users and clients. Thus, in September of this year, we conducted a study across Russia together with the Financial University under the Government of the Russian Federation. Surveys showed that the level of use of this technology at the household level is already quite high. Every third respondent said that they use AI services when receiving banking services. The highest percentage of people looking for recommended services, that is, products or services recommended in the bank's online application based on big data, was the highest (22%). In addition, 20% of Russians use chatbots in applications or on websites, and 14% turn to voice assistants,” said Nikolai Kozak.
Research shows that Russians highly value the effectiveness of AI in finance. More than 45% of respondents believe that artificial intelligence will improve the quality of financial services in our country, 30% do not see any effect, and only 24% assess the impact of AI negatively. At the same time, citizens consider the main advantage of working with AI to be the reduction in the risk of human factor (19% of respondents). 18% of respondents named the ability of AI to provide assistance and suggestions in finding the information they need as an advantage. Almost the same number of Russians highlight protection from errors and typos as a positive aspect of AI.
The success of AI is largely based on the widespread use of mobile banking applications, which make everyday life much easier, and Russians understand this, said Alexander Tsyganov, head of the department of real estate, mortgage lending and financial products at the University of Finance. Under the Government of the Russian Federation. Although AI is now often perceived as a popular trend, experts believe that its use will organically increase in the future, as the digital environment becomes more familiar and the generation becomes more intertwined with real life.