IBM has launched an AI-based virtual assistant for TD Precious Metals Digital Store in a bid to make the purchasing process easier for customers in Canada.
The TD Precious Metals digital store allows customers to digitally purchase physical gold, silver, and platinum bullion and coins.
Powered by IBM Watson Assistant, the virtual assistant is designed to offer quick responses to frequently asked customer questions and will provide them with a self-service option.
It will offer instantly answer customers’ queries related to pricing, delivery options, and shipping, along with links for further assistance, according to a statement by IBM.
TD Securities head of Retail & Wealth Distribution and Product Innovation James Wolanski commented: “We know our customers are looking for an enhanced digital experience and the new virtual assistant will provide quick responses to help customers feel confident in their purchasing decisions.
“Our TD Precious Metals Support Desk will remain available for any inquiry that may require additional support or a human touch.”
TD digital and technology teams and commerce and system integration staff from IBM Consulting collaborated for the development and integration of the virtual assistant. It was integrated into the TD Precious Metals digital store via the IBM Garage Methodology.
According to IBM’s 2021 Global AI Adoption Index, $43% surveyed advanced the rollout of AI during the last year in order to manage increasing call volumes through to virtual assistants and similar automation solutions.
The survey also revealed that 80% of companies plan to launch some form of automation software over the next 12 months.
IBM Canada Financial Services Sector leader Daniel Cascone said: “With rapid acceleration of digital transformation, businesses need to enhance their services using AI-powered intelligent workflows. The use of AI to automate tasks can drive greater efficiency and strengthen customer relationships.”
In December last year, Irish lender Allied Irish Banks partnered with IBM to accelerate its ongoing digital transformation.