Other-areas-application-big-data-machine-learning-technologies-CBM.pdf

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Other areas of possible application of BIG Data and Machine Learning technologies at the CBM Carlo Camilleri Statistics Department June 2019 The views expressed in this presentation are those of the author and do not necessarily reflect those of the Central Bank of Malta. Any errors are the author’s own.
BIG Data, Machine Learning & AI at CBM Central Bank of Malta Carlo Camilleri 2 Big Data for CBM - and the need to be proactive Big data work still on an exploratory mode, yet there is an increased interest Key objective for Central Banks is to better understand The new data-sets and related methodologies The value added in comparison with “traditional” statistics Focus on pilot projects
BIG Data, Machine Learning & AI at CBM Central Bank of Malta Carlo Camilleri 3 Chatbot Help Desk Automation Helpdesk service Chatbots are Virtual Assistants which can be deployed to improve respondents service and safeguard the reputational image. Chatbots can handle a high volume of requests with similar responses at 97% accuracy. Can be integrated into an organisation website and other services platforms. Examples of Chatbots Clare.AI used by online banking services NanoRep deployed in logistics eg FedEx and Vodafone Twyla works within enterprise systems such are ERPs and CRMs
BIG Data, Machine Learning & AI at CBM Central Bank of Malta Carlo Camilleri 4 Chatbot Help Desk Automation Helpdesk requests are usually ‘basic’ or ‘simple’ questions that take a lot of time to answer. An average question, like a respondent asking about the status of his registration process on one of our Statistical platforms, usually takes a lot of time. Asking for a respondent’s Entity Leicode, name of individual, verifying the respondent’s ID, looking up the Entity code in the system and finally providing the answer, will take minutes while the respondent is waiting. By automating these simple questions using chatbot technology, the same action will take less time and will take less resources. Since the process is much faster this way, the respondent does not have to wait and will have a more positive experience.
BIG Data, Machine Learning & AI at CBM Central Bank of Malta Carlo Camilleri 5 Chatbot Help Desk Automation When questions get more complex and the chatbot is not able to answer, questions will be transferred to a real person who then takes over to service the respondent.

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