IBM Watson-Powered AI Virtual Assistant Helps Visitors on the TD Precious Metals Digital Store
MARKHAM, ON, Feb. 9, 2022 /PRNewswire/ -- Investors looking to diversify their portfolios and coin collectors looking to add a new treasure to their collection are familiar with the benefits and value that precious metals can offer. To help make the purchasing process easier, IBM (NYSE: IBM) worked with TD Securities to launch an AI-based virtual assistant powered by IBM Watson Assistant that can help customers with inquiries on the TD Precious Metals digital store, including frequently asked questions.
The TD Precious Metals digital store allows customers to buy physical gold, silver and platinum bullion and coins online from the comfort of their home. The new virtual assistant, now available as a feature on the TD Precious Metals digital store, provides customers with a convenient self-service option, available 24/7, for frequently asked questions about TD Precious Metals. Customers type their questions into the virtual assistant and receive an instant written response, along with links to help further assist them.
"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," says James Wolanski, Managing Director, Head of Retail & Wealth Distribution & Product Innovation, TD Securities. "Our TD Precious Metals Support Desk will remain available for any inquiry that may require additional support or a human touch."
"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," said Daniel Cascone, Financial Services Sector Leader for IBM Canada. "We are working with TD Securities to enrich overall customer experience with the power of innovative technology like conversational AI through the IBM Watson-powered AI virtual assistant."
The new AI-powered virtual assistant can help customers with questions related to pricing, delivery options, and shipping, such as:
- How is pricing determined?
- Is there a minimum or maximum product count or dollar value when making a purchase?
- What delivery options does TD offer?
- How will my items be shipped?
TD digital and technology teams have worked closely with commerce and system integration experts from IBM Consulting to develop and fully integrate the virtual assistant into the TD Precious Metals digital store via the IBM Garage Methodology, a collaborative approach to fast-track innovation and drive meaningful, lasting transformation. Future iterations of the virtual assistant are planned to further improve the customer experience by incorporating additional enhancements and functionalities.
Nearly half of businesses (43%) surveyed accelerated their rollout of AI over the last year, according to IBM's 2021 Global AI Adoption Index, as organizations looked to virtual assistants to manage swelling call volumes and other similar pathways to automation. According to the same Index, 80% of companies surveyed said they had plans to roll out some form of automation software over the next 12 months1.
IBM was positioned as a Leader in the newly published 2022 Gartner® Magic QuadrantTM for Enterprise Conversational AI Platforms2 for its IBM Watson Assistant. IBM Watson Assistant uses AI designed to understand customers in context to provide fast, consistent, and accurate answers across applications, devices, or channels. IBM Watson Assistant has been deployed by clients around the world and across a range of industries to deliver powerful customer care experiences such as responding to time sensitive COVID-19 inquiries, helping citizens get more information on voting procedures, helping insurers provide more personalized services, and more.
Gartner, Magic Quadrant for Enterprise Conversational AI Platforms, Magnus Revang | Anthony Mullen | Bern Elliot, 24 January 2022
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About TD Bank Group
For more information, please visit: https://www.td.com/ca/en/about-td/
About IBM Canada:
For more information, please visit https://www.ibm.com/ca-en
For more information about IBM's insights and solutions for the financial services industry, visit www.ibm.com/financial-services.
1 IBM and Morning Consult: Global AI Adoption Index 2021
IBM Canada External Relations
IBM External Relations