IBM Watson-Powered AI Virtual Assistant Helps Visitors on the TD Precious Metals Digital Store

Rhea-AI Summary

IBM has collaborated with TD Securities to introduce an AI-powered virtual assistant on the TD Precious Metals digital store. This new tool aims to enhance customer experience by providing quick, 24/7 responses to frequently asked questions about purchasing precious metals such as gold, silver, and platinum. The assistant, developed using IBM Watson Assistant, allows users to inquire about pricing, delivery options, and shipping details. This initiative aligns with the growing trend towards AI automation in customer service, with 43% of businesses accelerating AI implementation in the last year.

Positive

• Launch of AI-based virtual assistant enhances customer experience.
• 24/7 availability provides instant responses to customer inquiries.
• Alignment with the growing trend of AI adoption in businesses.

Negative

• None.

Designed to provide consistent, quick responses to frequently asked customer questions

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 Quadrant^TM 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 Disclaimers:
Gartner, Magic Quadrant for Enterprise Conversational AI Platforms, Magnus Revang | Anthony Mullen | Bern Elliot, 24 January 2022
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
Gartner and Magic Quadrant are registered trademarks of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

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 2 Source: Gartner, "Magic Quadrant for Enterprise Conversational AI Platforms," Magnus Revang, Anthony Mullen, Bern Elliot [January 24, 2022]

Media Contact:
Ruhee Dhar
IBM Canada External Relations
ruhee@ibm.com 

Sarah Murphy
IBM External Relations
srmurphy@us.ibm.com 

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SOURCE IBM

FAQ

What is the new AI virtual assistant by IBM for TD Precious Metals?

The AI virtual assistant helps customers on the TD Precious Metals digital store by answering frequently asked questions about purchasing precious metals.

When did IBM launch the AI virtual assistant for TD Precious Metals?

The AI virtual assistant was launched on February 9, 2022.

How does the IBM Watson Assistant improve customer service for TD?

IBM Watson Assistant provides quick, 24/7 responses to customer inquiries, enhancing overall customer service experience.

What kind of inquiries can the AI virtual assistant handle?

The virtual assistant can handle questions related to pricing, delivery options, and shipping for precious metals purchases.

What recent trend is related to IBM's AI virtual assistant implementation?

43% of businesses have accelerated AI adoption over the last year, indicating a growing trend towards automation in customer service.