2018 Student Research Conference:
31st Annual Student Research Conference

Chatbots and the Expansion of Artificial Intelligence in Consumer and Business Finance

Shane Legatzke
Prof. Charles Boughton, Faculty Mentor

The next ten years will be a critical period for development in the financial world, with the potential for numerous shifts and upheavals in the way people spend money. One emerging technology that is uniquely positioned to disrupt spending practices is the chatbot, an interactive software that uses natural language processing to mimic human conversation. More broadly, chatbots are poised to be a vehicle to rapidly spread artificial intelligence to new applications in the world of consumer and business finance. This report will examine the current applications of bots in both personal and business settings, analyze the feasibility of increased usage and expanded functionalities, and highlight the areas where chatbots have the greatest disruptive potential. The presentation will also evaluate beneficiaries and victims from the onset of bots and discuss the ways financial firms can position themselves for this trend. 

Keywords: Chatbots

Topic(s):Business Administration

Presentation Type: Oral Paper

Session: 109-4
Location: VH 1320
Time: 8:45

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