20 Aug 2019

Law firm survey reveals Chatbot preferences

Over a third of people “would prefer fast response from chatbot about finances”.

By David Cowan

sdecoret / Shutterstock.com


Some 35 percent would prefer an immediate response from a chatbot computer programme, which uses AI to mimic conversation, rather than waiting for a person to respond to their queries, according to the survey of over 800 people from law firm Pinsent Masons and financial technology membership association Innovate Finance.

However, 60 percent of those surveyed said that if they became aware that something had gone wrong when using AI then they would instantly want to speak with a human. And more than half (58 percent) of consumers think that if something did go wrong with the process, the responsibility would lie with the financial institution. Some 63 percent of people would be happy to use chatbots to answer everyday queries.

Nearly two-thirds (64 percent) of those surveyed would like to be given the option to choose between a human adviser and a chatbot at the outset, rather than a financial services firm assuming they are happy to use AI. Luke Scanlon, head of fintech propositions at Pinsent Masons, said, “Financial institutions looking to use AI need to think carefully about what it means to treat customers fairly and clarify how liability can be allocated when using AI technologies as clearly the human element remains important to customers.”

This content is available to subscribers only. To continue reading...

Sign in to your account

Take a one-month free trial

If you aren't a subscriber, please sign up for a one-month free trial to access all Robotics Law Journal content, including:

  • All premium online content
  • Daily newsletters
  • Breaking news alerts

If you require further information, please email [email protected] or contact call us on +44 (0) 20 7193 5801.