Page 31 - Banking Finance July 2024

ARTICLE

gies can provide personalized recommendations, feed- time. This technology can be particularly helpful for
back, and support for people who have cognitive dis- recognizing and understanding the user's environment.
abilities, mental health issues, or chronic conditions. Natural Language Processing (NLP) for improved com-

Navigation and Mobility: AI contributes to navigation munication: NLP is at the forefront of enhancing com-
aids for the visually impaired, assisting in mobility munication between users and banking systems. NLP-
through applications that offer detailed descriptions of powered tools convert written content into speech,
surroundings, indoor navigation, and obstacle detection aiding those with reading difficulties. AI-powered
using sensors and computer vision. AI-driven navigation chatbots and virtual assistants equipped with NLP ca-
apps like Google Maps, Moovit, and Wheelmap provide pabilities can understand and respond to natural lan-
invaluable support for individuals with disabilities in plan- guage queries and facilitate easier communication and
ning routes, accessing public transportation, and iden- access to information. This functionality significantly
tifying accessible venues. benefits individuals with visual impairments or motor
disabilities, enabling them to interact with banking ser-
In recent years, the fusion of Artificial Intelligence (AI) with vices using voice commands or text inputs.
banking services has not only reshaped the industry but has Personalization and Customization for Individual
also been a catalyst for empowering accessibility. By har-
Needs: AI enables customization of interfaces and ex-
nessing the capabilities of AI, banks are revolutionizing periences based on user preferences and needs, cater-
assistive technologies, ensuring that financial services are ing to individual requirements and making technology
more inclusive and accessible to everyone, regardless of more user-friendly.AI algorithms analyze user behaviour
their abilities or limitations. and preferences to offer personalized experiences. This
level of customization is a game-changer for individuals
The Role of AI in Transforming Accessi- with specific needs or limitations. Customizable inter-
bility faces, adaptive features, and tailored recommendations
ensure that users can navigate banking applications
Artificial Intelligence serves as a powerful tool in revolution-
izing accessibility within the banking sector. Through ad- based on their unique requirements.
vanced algorithms and machine learning, AI enables the Automation and Simplification of Processes: AI
development of assistive technologies that cater to the di- streamlines complex processes and automates routine
verse needs of users. Artificial Intelligence (AI) has made tasks, making banking services more accessible to a
significant strides in enhancing accessibility and inclusion for wider audience. Features like automated bill payments,
visually impaired or differently-abled individuals: transaction categorization, and predictive analytics re-
Assistive Technologies: AI-driven applications, like duce the cognitive load on users, benefiting those with
screen readers and voice assistants, enable visually im- cognitive disabilities or the elderly.
paired individuals to access digital content, navigate Inclusive Design: AI assists in designing accessible in-
devices, and interact with technology using voice com- terfaces and products by analyzing user behaviour and
mands or braille displays. Integrated screen readers like
VoiceOver and TalkBack on smartphones, aiding in de-
scribing apps, textual messages, and more for the Vi-
sually Impaired. Virtual Assistants like Siri, and Google
Assistant enables easy interaction and communication
through voice commands.
Image Recognition and Description: AI-based image
recognition and description tools help in identifying
objects, reading text aloud, and describing visual con-
tent, thereby providing context and information for vi-
sually impaired users. For Example, AI-powered apps,
like Seeing AI by Microsoft, use computer vision to iden-
tify and describe objects, people, and scenes in real-

28 | 2024 | JULY | BANKING FINANCE