'Ernest' Helps with Finance Management by Answering Questions
Michael Hemsworth — January 4, 2017 — Tech
'Ernest' is a new kind of AI chatbot that will help with finance management to effectively provide insight into personal finances in a more straight-forward way.
More consumers are looking to maintain their own finances than ever instead of heading for the bank for help. As such, the market for apps and developments that put more power in the hands of users via their smartphone is expanding exponentially.
'Ernest' works by enabling users to ask questions and gain insight into their finance management doings without having to make guesses or going endlessly through accounts. Best of all, 'Ernest' can answer questions quickly without having to rely on real people, which means that users can ask questions at any hour of the day.
More consumers are looking to maintain their own finances than ever instead of heading for the bank for help. As such, the market for apps and developments that put more power in the hands of users via their smartphone is expanding exponentially.
'Ernest' works by enabling users to ask questions and gain insight into their finance management doings without having to make guesses or going endlessly through accounts. Best of all, 'Ernest' can answer questions quickly without having to rely on real people, which means that users can ask questions at any hour of the day.
Trend Themes
1. AI Chatbots - The rise of AI chatbots in personal finance is opening up new opportunities for automated financial management and support.
2. User Empowerment - The trend towards empowering users with smartphone apps and developments in personal finance is disrupting traditional banking practices.
3. 24/7 Access - The demand for chatbots like 'Ernest' that provide instant answers to personal finance questions is driving the need for round-the-clock access to financial insights.
Industry Implications
1. Fintech - Fintech companies have the opportunity to leverage AI chatbots like 'Ernest' to provide innovative solutions for personal finance management and customer support.
2. Digital Banking - Digital banking institutions can benefit from implementing AI chatbot technologies to enhance customer engagement and streamline personal finance management processes.
3. Mobile Apps - The mobile app industry can tap into the growing demand for personal finance chatbots to develop user-friendly solutions that empower individuals to take control of their finances on the go.
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