While bank automation is enticing as a concept, CFOs need a clear understanding of what kind of tasks can be automated. Automation and robotics to improve processes in banking This is spurring redesigns of processes, which in turn improves customer experience and creates more efficient operations. The repetitive tasks that once dominated the workforce are now being replaced with more intellectually demanding tasks. In the current Fourth Industrial Revolution, automation is improving the bottom line for companies by increasing employee productivity. Since the Industrial Revolution, automation has had a significant impact on economic productivity around the world. Now, with the advancements in AI and machine learning, what does the future hold for the banking industry? Banking Automation in terms of Productivity With the invention of the internet and cellphone came mobile banking, further dissipating the need for tellers to do basic tasks like withdrawing money or account inquiries. Since then the ATM paved way for the banking industry to focus more on customer service and other banking needs. We first saw automation take hold with the first automatic teller machine (ATM) in 1969. Automation is nothing new in the banking industry.
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