The Application of Artificial Intelligence and the Interactive Voice Recognition in the Banking Industry in Sri Lanka

Abstract

 This research was conducted in qualitative approach. The researcher has worked with developing a framework based on the concept of artificial intelligence (AI) to introduce a new model. On that purpose, primary data were collected from hundred customers who enjoyed in services of interactive voice recognition (IVR) in the Banking Industry in Sri Lanka based on interviews with an open-ended question. The researcher has coded the collected data to spot the patterns to identify and analyze the core relationship in between AI and IVR; to discuss and to revise the developed model. The samples are selected in accordance with the intention to extract relevant information, and thus, the researcher has used non-probability sampling aimed to find respondents that had some experiences with any types of services in IVR. Data were analyzed by labeling them as “codes” and the researcher went through all the labels that were constructed in the previous stage; these were then categorized once more into themes. These themes and labels were then used to spot indications and patterns in the data that the researchers used when analyzing their primary data. The findings of this study suggest that customers are skeptical towards in interactive voice recognition in telephone customer services and believe that the service quality would be lower than regular telephone service. The findings did however reflect that customers are willing to cope or adjust to new technology as long as there are alternatives them to be