Technologies a virtual assistant is based on




During after-sales service, users expect quick answers that can solve (or even anticipate) their problems. Chatbot is a useful tool to support the different Customer Service activities within companies.



Failure to meet customer expectations can result in several negative scenarios:


– Failure to purchase the product (or service);


– Search for alternative solutions, which may lead to the purchase of a competitive product/service;


– Breakdown of the relationship with the client.


Consumers are no longer subject to companies, but they expect to be heard and put as the first level of the pyramid. Therefore, for a firm have an efficient customer service is an essential feature.



The current scenario in the use of chatbots


The use of chatbots to optimize customer service is no longer a future scenario, but a nowadays reality.



Regarding this, among the most exciting data of the research conducted by Invesp emerges:


– 67% of consumers worldwide have used a chatbot (used as a Customer Service) during the last year;


– 95% of consumers are convinced that potential purchasers will benefit from the use of chatbots;


– 40% of consumers have as their only concern to get a solution to their problems, not interested in the human origin, or artificial help.



Chatbots: what they are and which type of them already exist in the market


Chatbots can simulate a real and human conversation with their interlocutor, through textual or vocal messages.


There are two types of chatbot:


Rule-based chatbot, or bot not based on Artificial Intelligence and reacting to events in a certain way, as provided by the algorithm;


A.I Chatbots, or bots, that are built through machine learning to understand the context and intent of the question that is addressed to them.


The majority of A.I chatbots are focused on Natural Language Processing (NLP), that is on a computer processing of natural language (that is the language used daily).


This type of Chatbots  are therefore able to recognize what written by the user and to answer any questions.


The A.I chatbots, focused on the NLP, are not infallible: in case the question of the user does not concern the topics on which the chatbot was trained, the user may not receive an answer.


All this could not only affect the relationship with the company (regardless of its strength) also reduce the customer’s willingness to come into contact with the company again.



Chatbot and Customer Care: why use A.I in customer service


Chatbots do not replace employees engaged in customer service activities but complement the tools already used to optimize the whole after-sales process.


Most of the questions, which users ask at the time of the assistance, are repetitive, but they still require a waste of energy and time on the part of the operator who interacts with the user.


Chatbots can be used to handle these repetitive questions.


The adoption of this technology allows, therefore, assigning other assignments to employees, using it where it is essential in different phases and moments of the process of customer loyalty.


All that allows companies to reduce costs, but there are other benefits that a company can receive from integrating chatbots into its Customer Service process:


Provide 24/7 active customer service, providing the user with continuous and uninterrupted customer service, providing quick answers at the exact moment when they are requested by the customer;


Continuous learning of chatbot, which results in a progressive improvement of its performance in interacting with the client;


Customization of the consumer experience (customer experience), being able to use the chatbots in one-to-one conversations to-one, which give back to the customer an after-sales service experience entirely built on his needs and his requests.



The characteristics of excellent customer service


To develop an efficient Customer Service, you need to implement some factors:


1) Build and train a team that is suitable for managing customer service and can relate to customers.


     The members of the working group must share some interpersonal traits:


      – Ability to understand what kind of customers you have to deal with and how you can best respond to their needs;

      –Ability to adapt to situations and solve problems;

      –Ability to work in a team;

      – Honesty, or to admit errors with the customers, having as a result that to be appreciated for this expression of integrity;


2) Put the customer at the center, building a two-way relationship with the customer.


3) Offer customers a quick response to their problems, generating in them a positive feeling towards the brand or the company.



Customer Service: what it is


The Customer Service (CS) is defined as the set of relationships that exist between the company and the customer not only at the time of the purchase of the product or service but also after its use.


According to academic marketing literature,  Customer Service is something intangible, linked to a set of additional activities that a company provides to the buyer of a product/service.



Customer Service and Customer Care: what they mean


The concepts of Customer Service and Customer Care are often confused with each other, although they have a different meaning.


The Customer Service has as the main objective to answer to the questions of the customers.


These questions may cover different phases of the customer’s approach to the product/service:


– The consumer may have questions before completing the purchase (and answering these questions means facilitating the final purchase of the goods by the customer);


– The customer can have questions once the purchase is completed. Answering these questions means allowing the user to use the product in the best possible way, ensuring its maximum performance.


In the long term, if a consumer is often satisfied with the company’s products or services, it will become a loyal customer.


Customer Care goes beyond consumer relations with the company before or after the purchase of the goods/service.


Customer Care is based on the customer’s attention and is, therefore reflected in a continuous process of listening to the needs and problems of the consumer to build a deeper relationship.


What are the benefits of Customer Service


A good customer service process can increase Customer satisfaction, that is the fulfillment of a customer need with a product/service purchased.


As evidenced by the academic literature, the satisfaction of a customer (and therefore Customer satisfaction) implies the ability of the company, or the individual brand, to meet the expectations of customers.


The Customer Service also guarantees the customer a series of additional activities (tangible or intangible), such as the guarantee after the purchase or the free delivery of the purchased product.


Overall, these activities (which together make up the Customer Service) increase the value received and perceived by the consumer.


This will bring the customer:


– To repeat the purchase (choosing that product or that specific brand after a certain period again);


– To be willing to spend more to buy that brand or product, by the additional benefits that are guaranteed.


Artificial Intelligence is designed to listen to and respond to the needs of the consumer, contributing to the creation of personalized purchasing experiences.



Artificial Intelligence has been designed to facilitate the adoption of a marketing one-to-one (or customer-centered), allowing companies to take care of the needs of their consumers.


The use of chat-bot, or recommendation systems, allows companies to define engaging and structured shopping routes on consumer needs.


Overall this facilitates the construction of a positive Customer Experience, generating a positive feeling in the consumer, which can lead (in the long run) with loyalty to the company.


What Is Artificial Intelligence


Artificial Intelligence is part of Computer Science and concerns the creation of systems intelligent persons capable of carrying out one or more tasks in a timely and efficient manner.


Through Artificial Intelligence it is possible to give full attention to all the different needs of the consumer, building a satisfying purchasing experience.


This result is achieved because through intelligent machines it is possible automate repetitive tasks related to customer management, reducing costs without but reduce the quality of its service.


How Artificial Intelligence can be applied to marketing: intervene in the phases customer journey


Listening to the consumer does not only involve considering his complaints about the functioning of a product.


On the contrary, it means taking into account all its needs, starting from when the consumer perceives a deficiency and endeavors to satisfy this need to.


Specifically, in marketing, this path, accomplished by the consumer, when it purchase a specific product or service (starting from a need), it takes the name of, Customer Journey.


The Customer Journey consists of 5 phases:


1) Awareness of a lack, which results in a need and therefore in the research for a product or service capable of filling this state of dissatisfaction;


2) Construction of the consideration set, or the different products available on the market are capable to satisfy the lack perceived by the consumer;


3) Evaluation of alternatives by seeking further information on products or services taken into account;


4) Purchase of the product, or service;


5) Post-purchase experience, which involves the use of the product or service and evaluation of the capacity of the good to meet the consumer’s expectations and needs.


Artificial Intelligence is designed to optimize some of these phases.


Frequently the user, during the information search phase (to build the own consideration set, or evaluate more schematically several alternatives) finds himself at managing a large amount of information.


The use of a chat-bot could, therefore, facilitate the search for information, giving to the consumer a chance to find out quickly what he is looking for.


Chat-bots are a useful interlocutor for the customer even after the purchase of the product, getting an immediate response to any doubts or complaints.


What is the Customer Experience


The Customer Journey concept is linked to the Customer Experience one.


The Customer Experience is the set of experiences and emotions experienced by the consumers in the different stages of Customer Journey.


These experiences are structured in the consumer through direct and indirect interactive ones that he has with the company during the purchase path.


Direct interaction means all real contacts with the company, for example with the staff inside the point of sale.


For indirect interactions, reference is made to those contracts with the company without was a real dialogue with the company, for example, seeing an advertisement, or through the word of mouth (or through third party recommendations).


How to build a positive purchasing experience


According to marketing literature, a positive Customer Experience is the result of some



– The ability of the company to satisfy the customer through a product or service capable of filling the consumer’s need;


– The willingness of the company to interact with the consumer by resolving any doubts or questions;


– Building an engaging experience using all the different contact points (from point of sale to the online site).


A research conducted by KPMG highlighted the six pillars of an excellent Customer Experience:


1) Personalization, demonstrating to the consumer that he has understood his needs and that he has structured the whole experience based on these shortcomings;


2) Integrity, thus showing the client to be worthy of his trust;


3) Meet and even exceed consumer expectations;


4) Troubleshooting which may have arisen in the course of experience;


5) Empathy, or showing the consumer that he has understood his experiences and needs;


6) Removing obstacles between the consumer and his objective (in this case, satisfy a deficiency).


How to improve Customer Experience with Artificial Intelligence


In its different forms, Artificial Intelligence is designed to help companies in listening to their customers, getting to create in the consumer positive experiences during the buying process.

To achieve this, a company can:

Implement a chat-bot, or an autoresponder, capable of simulating a real conversation with your interlocutor. The use of a chat-bot also allows the company to build an efficient Customer Service, assisting the customer 24/7, resolving any doubts or questions;


Define a virtual assistant, which can simplify the purchasing process, allowing the consumer to identify more quickly the product or service appropriate to his needs;


– To construct a recommendation system which, by compiling data on habits and consumer buying behavior can advise products or services related to previous purchases.


Why Optimize Purchasing Experiences with Artificial Intelligence


The implementation of Artificial Intelligence allows companies to build experiences of Customized purchase based on the needs and needs of the consumer.


In this way, the company adopts a consumer-centered marketing approach, not treated as a mere source of profit, but actively listened to in all its necessities, which can be answered quickly and efficiently.


Listening to your customers, engaging them and answering their questions allows you to build in the consumer of positive emotions, which will increase the possibilities of buying, of reiteration of the purchase and loyalty towards the company.


The use of Artificial Intelligence defines a win-win situation (or reciprocal advantage):


– The company can reduce the costs incurred for the assistance and support services, without affecting their quality;


– The consumer will be heard and will find a quick solution to his problems.




Sharma A., How marketers are using chatbots to increase sales, “Chatbots Life”.

Thiel W., The role of AI in Customer Experience, “Pointillist”.


With the integration of artificial intelligence in asset management we can say goodbye to traditional wealth management services: consumers will benefit from simple services, fast and efficient with the use of chatbot, robots and intelligent machines.




With the creation of intelligent machines, artificial intelligence is changing the management of substantial assets, thanks to its ability to solve problems autonomous and efficient.


The machines can analyze and isolate the most relevant Big Data in a short time and facilitate the decision making the process.


For wealth management, the introduction of AI is an opportunity,  not only for the management and analysis of Big Data but also to improve customer relationships and facilitate before sales  and post-sales management and consulting operations.


Moreover, with artificial intelligence, wealth management will no longer have a narrow target of customers but will be able to expand its scope of activities to millennial.



What is wealth management


Wealth management includes all those services of high quality that regard the control of the wealth to a limited number of customers that have a consisting patrimony and requirements in continuous evolution in the time.


In particular, wealth management deals with asset protection over time and future investment goals.



The main asset of wealth management is savings management. The wealth management service is divided into two well-defined ones:


          Advice on the choice of investments that is the planning phase in which a consultant advises the most appropriate financial instruments to the client.


          Portfolio management which encompasses all the securities purchasing activity on the financial markets on behalf of the client.




AI and wealth management



Wealth management is affirmed today as a natural evolution of private and investment

banking. This trend has been dictated by the increasing needs of customers and the consequent weight of the services required, in particular advice.


The intelligent machine can manage normal back-office administrative activities, from marketing to investment management.


Thank to the integration of AI, new communication systems between intermediaries and clients are an essential factor in the consultant-client relationship.


Consultants can expand their activities and serve their customers effectively by increasing their productivity by managing the daily workflow better.


Collect and understand the complex needs of customers, propose solutions based on customer history, and explain complex concepts related to their customers, are the main activities of an AI consultant engaged in asset counseling.


Another factor in favor of AI, in asset management, is the expansion of wealth management to Millennial. They are native Digital, and for them, the technology must be the basis of any activity. With the introduction of AI, wealth management is also affecting new generations.


Moreover, millennial, unlike previous generations, value experience more than profit and do not consider money the only factor of success. Their vision of a sustainable world and their tendency to invest in socially responsible companies have opened up new challenges for wealth management.


Climate change, demographic change, and the rise of Digital in the workplace are some of the multiple factors that have led to a transformation of traditional models of wealth management.


Although wealth management is a service that can only be enjoyed by holders of huge assets (500,000 euro base)Today, technological innovations make it possible to reduce unnecessary costs and offer a highly specialized service to people with assets of less than 100,000 euros.


Wealth Management and fintech


AI, chatbot, and robots are the fintech technologies that are changing the financial market and in particular, wealth management.


The wealth management relies on fintech companies, introducing their innovative solutions that use artificial intelligence and robotics, to reduce costs and facilitate operations to consumers in the post-sales and customer care; With artificial intelligence, consumers can manage their money easily, quickly and effectively.


Reducing data storage, management, and analysis costs are the main reason why financial institutions rely on fin tech companies.




Benefits of Artificial Intelligence in wealth management



AI and machine learning bring benefits to managers and financial advisers in three particular areas:



1) Management and analysis of Big Data: thanks to artificial intelligence, wealth managers can isolate Big Data (vast masses of data and graphs) more meaningful and relevant to facilitate and reduce decision-making time.



2) Analysis and forecasting of market trends: The ability of artificial intelligence to predict market trends facilitates decision-making operations of financial managers and consultants.



3) Management of risk: Artificial intelligence can detect and react to the first signs of market volatility allowing financial managers and consultants to respond faster than the competition and improves risky activities and strategies of the cover story.



This is how artificial intelligence is integrated into the wealth sector and how easy it is to manage with chatbot, machine learning, and robots.


While traditional private bankers, through their relationships, have managed customer needs and ensured a high level of service, digitization of heritage management services does not replace that high-quality personal relationship but improves it by accelerating processes and using customer data to predict precisely what will be closest to their needs shortly.


AI can help wealth companies maximize their potential by recommending the Next Best actions, increase productivity, and improve the quality of experiences and relationships with customers, allowing the latter to receive an increasingly specific and personalized service.

Source : wallstret italiaMoneyfarm , Finscience

Intelligent systems are programmed to process numerical and nonnumerical values, understanding the same values or morals. With the definition of criteria and principles, there is an attempt to empower Artificial Intelligence.


How Artificial Intelligence Works


Artificial Intelligence is programmed to perform a precise task in an efficient and fast way, often lightening the work of man, becoming for him a useful partner.


Intelligent systems, for example, can analyze a large amount of information and documents, extrapolating the essential data from them or identifying particular correlations. Even the human being can achieve this result, but with more effort and time spent.


Artificial Intelligence is focused on specific algorithms, designed to ensure the particular task to be carried out by the system.


As a result, intelligent machines are programmed to make a decision using a precise scheme and based on clear and objective information.


There are therefore several questions about the morals and ethics of Artificial Intelligence and how intelligent systems can be empowered.


Ethics: an elusive concept, not easily definable


Artificial Intelligence is programmed to solve a problem rationally, providing a logical response through the processing of available information.


In everyday life, however, situations emerge which are challenging to assess singly.


Some concepts are not simple to rationalize or define. For example, it is complex describe the characteristics that conduct must have to be considered ethical.


The human being often faces uncertainty by relying on instinct. On the contrary, systems intelligent people find themselves at a crossroads and the solution they offer erroneous, or distorted.


Artificial Intelligence is not objective


Due to its capabilities and potentialities, Artificial Intelligence is often supposed to be an infallible and neutral system.


This belief stems from a mistaken assumption: the A.I makes decisions based on rational and not emotional elements, so its choices are objective.


Intelligent systems are often opaque, and it is, therefore, difficult to understand on which against data are discriminated.


Distortions of Artificial Intelligence: Discrimination and Racism


The type of information, used to program the system, strongly influences artificial Intelligence


Consequently, if the data are affected by errors (perhaps related to the prejudices of the programmer), or to historical, cultural or social distortions, the system will make decisions wrong.


Research in 2017 has shown how Artificial Intelligence can take racist and discriminatory decisions.


A premise: intelligent systems use a statistical approach. Consequently, they read the words giving them a positive or negative meaning depending on the terms which, in genre, accompany these words.


The research found that Artificial Intelligence associated European names with favorable terms, while African names were associated with negative expressions.


As a result, in the use of intelligent systems in selection processes, it could happen that the Artificial Intelligence (often used for a first skimming) ends up for to write nominations for the most European names.


Artificial Intelligence begins to be also used in the banking sector. Therefore, for the same principle, the system might be more likely to grant a loan or a credit to a person with a European name.


The criteria to be met to design an Artificial Ethical Intelligence

According to Nick Bostrom, Professor of Philosophy at Oxford,  Artificial Intelligence to be ethical, it must meet specific criteria:


 Algorithms must be transparent or quickly inspectedIt would make it possible to understand why Artificial Intelligence took a certain the decision before a request, or a problem;


The algorithms must be predictable or accompanied by a clear explanation of their results;


Intelligent systems must be safe, or third parties must not manipulate them with malicious intentions



– Clearly define the reference of a particular intelligent system, to have a clear point of reference to which to turn in case of problems.


The principles of the European Commission for Artificial Ethical Intelligence 


The European Commission has published an Ethics Code for Artificial Intelligence.


The document underlines the need for an anthropocentric approach to the A.I; this means that intelligent systems are identified as a means by which improve the well-being of the man.


Intelligent systems are identified as an essential tool to address current and global challenges, such as health and climate change.


In this regard, the European Commission has identified seven principles that Artificial Intelligence must respect to be ethical and reliable:

Human action and surveillance: intelligent systems must support a man in life daily and does not reduce its autonomy;

Robustness and safety: algorithms must be safe and reliable;

Privacy and data governance: citizens must be aware of the shared data used. It is also necessary to avoid this information being used to infringe it;

Transparency: traceability of intelligent systems;

Diversity, non-discrimination, and equity: intelligent systems must be accessible to everyone;

– Social and environmental welfare:  AI should support sustainability and ecological responsibility;

Accountability: ensuring accountability of AI and the results produced.


Translating ethics into the algorithm: the dawn of Algor-Ethics 

Artificial Intelligence is a new technology with great potential and rapid development, forced to clash with a society that moves more slowly.


Intelligent systems are programmed to make their decisions using several numerical values.


Consequently, it is also necessary to transform ethics into something understandable for Artificial Intelligence.


Thus the strand of Algor-ethics is opening, based on the idea of being able to translate values and principles into the binary language.


In doing so, in particular, situations, Artificial Intelligence could falter and the decision would be taken by human intervention.


Bostrom N. (2011), The Ethics of Artificial Intelligence

Artificial Intelligence is designed to process lawyers’ requests, increasing the quality guaranteed to the customer and reducing the costs incurred by him.


New technologies applied to law firms: Legal Tech


The expression Legal Tech synthesizes the use of new technologies (including Artificial Intelligence) in law firms.


The use of Artificial Intelligence allows lawyers to improve the management of mass of documents used for the individual cases to solve.


The new technologies, therefore, support the work of law firms, facilitating more efficient performance of the legal profession, of which the client will benefit.



Artificial Intelligence in law firms: practical applications


Artificial Intelligence applied to law firms allows automating processes and repetitive activities and to increase the quality of legal advice.


Specifically, there are several activities that intelligent machines can perform in the forensic sector:


– Research activities, simplifying the investigation of a given law or legislation within a substantial corpus and always changing;


– Predictive analysis, identifying the existence of any correlations or points in common between different cases, for example, analyze cases through different years;


– Drafting and revision of legal documents based on an in-depth analysis of materials, and similar contracts;


– Two intelligence, or detection of anomalies within contracts;


– Administrative support, using bots to organize appointments, or to respond to emails and phone calls.



The Ross case: a concrete example of the use of A.I in legal advice


A concrete example of Artificial Intelligence in the service of law firms is Ross.


Ross is a form of A.I designed by a team of engineers and lawyers and aimed to simplify the performance of the legal profession.


This intelligent machine can answer a precise question drawn up by a lawyer, engaged, for example, in the analysis of a legal case.

The processing of the result is achieved through three steps:


1) Understanding the text, using a proprietary algorithm of type NLP (Natural Language processing), Ross can process human language, including

what is required of him;


2) Retrieval of information, or parts of the body of legislation, similar to expressions used in the question text;


3) Classification of extracted data in order of relevance and relevance to the question posed to Artificial Intelligence.



The risks of using Artificial Intelligence in law firms


The application of Artificial Intelligence in law firms is not free from criticism.


The main issues to be resolved concern:


– The privacy of the data, in how much Artificial intelligence needs excellent quantities of data to answer in an efficient way to the questions of the lawyers.

The data of the clients must be, adequately protected; therefore, by the legal studies to avoid that sensitive information is distorted by third malicious.


– The legal ethics and therefore, as empowering will be possible the intelligent systems.


The legal profession is controlled by the Code Deontologico Forense, constituted from a series of norms of behavior that the lawyer is kept to respect in to compare him with the client.


Nevertheless, inside the Code Deontologico is not brought explicit references yet to the Artificial intelligence or the new technologies, producing a normative void.



The benefits of the use of Artificial intelligence to furnish legal services


The use of intelligent systems inside the legal profession produces a situation of win-win, or of a situation able to satisfy both the legal study as the clients.


Through the intelligent systems, the lawyers can complete their job in a way more efficient, individualizing in way faster possible connections among preceding cases or anomalies inside the documents.


Great precision in the carrying out of the legal duties is also translated in results efficient, or more expresses.


Accordingly, the costs that the client must think for the consultation will also decrease, without the quality of the service hears again of it.



The Artificial intelligence and the lawyers: complementary not a substitution


The intelligent systems can individualize in way rapid laws or correlations inside the normative corpus.


Despite the worries, Artificial intelligence will never replace him completely lawyers.


As underlined in the Report “To the: The new wave of legal services,” him too. It will be complementary to the legal advisor, becoming a profit tool of support able to reduce the cost of the performances of the legal firms, increasing the quality of the service.


Besides, the intelligent systems and human beings introduce different characteristics, that not them they make interchangeable.


In fact, in comparison to the lawyer, Artificial intelligence misses some necessary empathy to compare him to the client, especially in some delicate phases of the legal consultation.



What is Artificial intelligence 


Artificial intelligence is programmed for thinking and to resolve problems as a being human.


The algorithms at the base of the Artificial intelligence can be trained.


 All this means that developing the same charge; it improves the ability to establish the duty for which it has been projected.


Artificial intelligence is planned to resolve a problem in an efficient way of arriving to a concrete result in a short time.


Depending on the algorithms drawn, Artificial Intelligence can enter and adapt to any sector.


Even the law firms are restructuring their services taking advantage of the potential of Intelligent machines, which become useful support for the legal profession.



Morelli C., Tutto quello che c’è da sapere sulla Intelligenza Artificiale nello studio legale, Altalex.