CAN FRONT OFFICE JOBS BE REPLACED BY ARTIFICIAL INTELLIGENCE?
Technology is at the heart of many companies work these days, and there are many reasons why firms want to use more technology. Technology, after the initial investment, can save money and it can provide a more consistent standard of service to clients. Rather than having employees working long hours, utilising AI to connect with clients and provide a reasonable standard of service is going to appeal to many firms. Small and large firms can make an argument for switching some or even all of their front office work to AI but in reality, will this work?
There have been tremendous strides in the quality of chatbots and virtual agents of late. This has enabled some firms to create customer interactions directly, picking up valuable information which can be used at a later date. However, the use of AI hasn’t been seen as a direct replacement for employees in many firms, instead, it has been used to help employees do their jobs better.
CHATBOTS CAN GLEAN INFORMATION FROM CLIENTS
Many virtual agents or chatbots are the first point of contact with a new client or customer. These bots will engage the client in conversation and will glean relevant information from them. This means that when a human makes the first contact with a client, they have a bank of knowledge that can be used to make the engagement more tangible and real.
It could be that certain front office staff members are better suited to certain clients or in achieving certain goals. By collecting relevant data and information at the start of the process, it becomes easier to allocate team members to a new client, and this can make a difference in the long-term. When you have a front office staff member who has been selected as a good fit for the client, you can meet their goals quicker and you can provide them with the service that the client needs.
THE TECHNOLOGY IS STILL IMPROVING ALL THE TIME
There is also the fact that there are still risks associated with AI. A lot of work needs to be undertaken to ensure this technology is risk free, and this means many firms are unwilling to abandon professionals at this stage. Instead, you should see front office team members and AI technology working together to provide the best standard of service to clients, which has to be a positive outcome for firms operating in the financial sector.
At City Wharf Financial Recruitment, we take new technology and the impact on employment very seriously. If you are completely unconcerned about AI and its impact on front office jobs, you are likely missing the capabilities and key risks. However, we know that many firms are looking to utilise AI and front office staff members together, and we are confident that our clients have the skills and confidence to work in this manner.
When it comes to finding front office jobs that move with the times, choose the recruitment firm with its finger on the pulse.